Radian Group Inc. and MGIC Investment Corp. are among mortgage insurers that would need to fill a financial gap under new financial-strength rules proposed by the Federal Housing Finance Agency.
Radian said it would need about $850 million to meet the standard now and expects to be able to comply within a two-year transition period allowed under the rules. MGIC could face a shortfall of about $600 million at the end of this year, the Milwaukee-based company said Friday. Genworth Financial Inc. said Thursday that it may need as much as $550 million at its mortgage insurer by June 30, 2015, to meet the standards.
