United Guaranty News
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Hedge funds led by Paulson & Co. and Maverick Capital are piling into mortgage insurers in a bet that some of the companies worst hit by the U.S. housing crash will be among the biggest winners in the rebound.
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American International Group Inc., the insurer that repaid a bailout last year, posted first-quarter profit that beat analysts’ estimates as results improved at the property-casualty operation.
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An American International Group Inc. unit lost a bid to overturn a court award of more than $45 million to SunTrust Banks Inc. for refusing to cover losses tied to borrower defaults on mortgages.
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Four mortgage insurers will pay more than $15 million in penalties to settle claims they paid illegal kickbacks to lenders in exchange for business, the Consumer Financial Protection Bureau said today.
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American International Group Inc., the insurer that was rescued by the U.S. government in 2008 after soured bets on mortgage securities, is building a unit to buy individual home loans amid a rebound in the housing market.
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Bank of America Corp., the second- largest U.S. lender by assets, must face claims by homeowners that it took kickbacks from private insurers, a judge ruled.
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Intrade, the betting website that halted trading last month amid a probe into suspected financial irregularities, told customers it has found a $700,000 shortfall in client funds as it seeks their backing for a survival plan.
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A unit of American International Group Inc., the insurer majority owned by the U.S. government, filed a notice of appeal challenging a judge’s order to pay more than $45 million to SunTrust Banks Inc. to fulfill mortgage insurance contracts.
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American International Group Inc., the insurer that counts the U.S. as its largest shareholder, promoted Donna DeMaio to run the mortgage guaranty business as the company expands bets on a housing rebound.
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American International Group Inc., the insurer bailed out by U.S. taxpayers, is investing in home- loan insurance, a business that Aldo Zucaro, chief executive officer of rival Old Republic International Corp., said doesn’t make sense.
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