Radian Group Inc., one of the nation’s largest mortgage insurers, is singing the mortgage blues. Few people realize they are also tied to mortgage insurance and debt collection. This week, however, at least four securities lawsuits were filed against the company in U.S. District Court in Philadelphia.
Law firms representing shareholders are accusing Radian of making “materially false and misleading” statements about the financial health of an affiliate, Credit-Based Asset Servicing and Securitization LLC. Subsequent disclosures of problems at C-BASS, which invests in subprime home loans using borrowed money and packages them into securities, tanked Radian’s stock.
For a detailed look at Radian and bill collectors see a three part article prepared by Household – HSBC Watch and pay specific attention to part two. It might shock you.
Hi, I'm Jen and I'm here to help. Submit your complaint here or get help here
This article, Radian Gets Sued, Tied to MGIC, is just one of our articles from our Mortgage Crisis Daily
The Subprime Mortgage Crisis Before, During, and After
Mortgage Crisis Daily monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
