American Banker (06/24/08) P. 11; Terris, Harry
Freddie Mac will continue to do business with MGIC Investment, PMI Group and Radian Group, even though the mortgage insurers have been downgraded by the ratings agencies. The government-sponsored enterprise says it has reviewed their plans to regain double-A ratings from the credit agencies but adds that it could "rescind or modify" at any time its decision not to impose restrictions on the mortgage insurers. Freddie Mac also has denied Triad Guaranty's appeal of its "suspension as an approved mortgage insurer;" and the Winston Salem, N.C., company says it will stop writing policies in July. The three ratings agencies had downgraded the smaller mortgage insurer below the single-A level.
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