Radian Supports Government Plans to Stabilize Housing Market
04 Mars 2009 - 6:40PM
PR Newswire (US)
PHILADELPHIA, March 4 /PRNewswire-FirstCall/ -- Radian Group Inc.
(NYSE: RDN) commented on the plans announced today by the U.S.
Department of the Treasury to help stabilize the housing market.
S.A. Ibrahim, Chief Executive Officer of Radian, made the following
statement: "We applaud the efforts of the United States Treasury
and Department of Housing and Urban Development, in conjunction
with Fannie Mae and Freddie Mac, to prevent avoidable foreclosures
and help stem the ongoing mortgage crisis. The actions outlined
under the Affordability and Stability Plan will play a significant
role in mitigating the potentially devastating consequences facing
millions of homeowners and hundreds of communities across the
country. "As a leading private mortgage insurance provider, Radian
Guaranty is working closely with our mortgage servicing partners
and the GSEs in helping families restructure or refinance their
debt to avoid foreclosure. The private mortgage insurance industry
is a vital part of the U.S. housing finance system and remains an
essential building block for a return to a vibrant housing market.
"We are pleased that the Administration is working to provide the
mortgage servicing industry additional tools in our ongoing efforts
to help keep families in their homes. Radian will remain responsive
and flexible to the needs of the Administration and all of our
partners as this comprehensive and detailed program is implemented.
We also appreciate the continued recognition of the critical role
of private mortgage insurance by the Federal Housing Finance
Agency." About Radian Radian Group Inc. (NYSE:RDN), headquartered
in Philadelphia, provides private mortgage insurance and related
risk management products and services to mortgage lenders
nationwide through its principal operating subsidiary, Radian
Guaranty Inc. These services help promote and preserve
homeownership opportunities for homebuyers, while protecting
lenders from default-related losses on residential first mortgages
and facilitating the sale of low-down payment mortgages in the
secondary market. Additional information may be found at
http://www.radian.biz/. DATASOURCE: Radian Group Inc. CONTACT:
Investors, Terri Williams-Perry, +1-215-231-1486, , or Media, Rick
Gillespie, +1-215-231-1061, , both of Radian Group Inc. Web Site:
http://www.radian.biz/
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