Mortgage insurer Radian Group Inc. (NYSE: RDN) said Thursday that it has increased its stake in Sherman Financial Group, one of the largest debt purchasers in the U.S.
In a press release issued late Thursday, Radian informed investors that it has completed the largest phase of its capital improvement plan. The mortgage insurer has been hit hard by the real estate market downturn and subsequent financial sector fallout. Radian said that it is contributing the ownership stake of another business to its core mortgage insurance unit, bolstering its liquidity.
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