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Radian Group Inc. Message Board

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  • tommiegun53 tommiegun53 Nov 19, 2012 8:37 AM Flag

    Cure Rate For October 91.74% Best Since March For Radian

    MGIC came in at 86.0% with 9401 cures and 10,937 new defaults in October.

    MGIC's 9 month percentage of cures/new default is 89.68%. With 90,896 cures and 101,454 new defaults.

    Sentiment: Strong Buy

    • Apparently the success that Radian in seeing in it's high and unseasonally level of cures is a direct result of bank modifications from the Robo Signing scandal settlement. Now if the bank can settle their claims in full by March 2013 they will receive an extra 25% credit.

      Most of the banks would like settle matters in 2012 so that can put the matter to rest not have impact of the settlement affect their 2013 earnings per share.

      As a result watch Radian monthly default reports for November and December for addition abnormally and unseasonably cures.

      Bottom line. If cures almost satisfy new defaults as October did and paid loan are less than the average paid n the third quarter: we will see pure unadulterated profits in the MI unit in Q4.

      Update as information is reported.

      Sentiment: Strong Buy

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