Cure Rate For October 91.74% Best Since March For Radian
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.