Mortgage insurer Radian Group is considering selling its 21 percent stake in debt purchasing giant Sherman Financial as it seeks capital to shore up its finances in the wake of the mortgage market meltdown. Radian’s leaders disclosed the option during a quarterly conference call with analysts.
Philadelphia-based Radian said it lost $618 million in the fourth quarter and recorded a net loss of $1.2 billion for the full year. Radian CEO S.A. Ibrahim said at the end of his opening remarks that the firm was undertaking “capital raising initiatives,” but did not specify what steps the company was taking to raise cash.
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