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Tag Archives: Radian

MERS Announces Retirement of President and CEO R.K. Arnold

Merscorp Inc. (MERS) says its president and CEO, R.K. Arnold, who has been with the company since it was founded 15 years ago, has resigned. Paul Bognanno, former chairman of private mortgage insurer Radian Guaranty, will serve as interim president and CEO and lead the company's search for Arnold's permanent replacement. The executive shake-up is reportedly tied to the controversy surrounding the MERS System and whether or not it has the legal right to foreclose on properties on behalf of lenders and servicers.

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Report: Private Mortgage Insurance Enjoys Best Month in August

Based on data from six member firms, Mortgage Insurance Companies of America (MICA) reports that the companies accounted for a total of $780.3 billion in primary mortgage insurance in force in August. The private mortgage insurance industry enjoyed its best month of the year for new business. The dollar volume of primary insurance on newly originated conventional mortgages totaled $6.4 billion. MICA's members reported that 32,215 borrowers used private mortgage insurance to buy or refinance a home in August.

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Radian Gives $200,000 to HOPE LoanPort for Foreclosure Assistance

Mortgage insurer Radian Guaranty Inc. has made a $200,000 grant to HOPE LoanPort to be used by borrowers, non-profit counselors, servicers, and other organizations to improve the execution of loss mitigation activities, including those under the Home Affordable Modification Program (HAMP). Radian's contribution will be used to support HOPE LoanPort in its mission to address some of the hurdles borrowers face when seeking foreclosure alternatives.

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