MGIC Sues Radian as Partnership Leads to Divorce

Strange bedfellows are now suing each other. A sure sign that Radian, MGIC, and C-BASS are singing the mortgage blues came to the forefront as a recent news article shows Radian and MGIC feuding like business partners who can’t get along. The two sides have disagreed on whether MGIC is obligated to complete its buyout …

Mortgage brokers may not get you the best deal

Mortgage brokers have no obligation to get their customers the best deal. Actually, mortgage brokers have an incentive to push customers toward a mortgage with an unnecessarily high rate. That’s because the bank’s payment to the mortgage broker, called a yield spread premium, compensates the broker for the spread between the lowest rate at which …