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Radian's 'Smart Home' Targets Nonprime Market.(Brief Article)
Philadelphia -- Radian Group has completed a structured finance transaction to help the company manage its risk from nonprime mortgage loans.
The transaction involved Smart Home Reinsurance 2005-1 Limited, a company that was created and funded through the sale of $98.5 million of credit-linked notes backed by a $1.68 billion pool of Radian-insured alt-A mortgage loans.
Radian said that Smart Home enables it to transfer nonprime mortgage risk while simultaneously increasing its capacity and improving new business opportunities in that segment of the market.
By combining its history of mortgage insurance with its structured finance expertise, Radian said that Smart Home better positions the company to ...
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