(Reuters) - "Beginning in February, the market for subprime mortgages has experienced significant turmoil, with market dislocations accelerating to unprecedented levels ... in ... mid-July," MGIC said in its statement. Credit agencies have downgraded hundreds of bonds backing subprime loans to junk.
MGIC said it had invested $466 million of equity in C-BASS as of June 30, with an additional $50 million drawn in July under a $50 million unsecured credit facility that the company had provided C-BASS.
Read more at Reuters.com Mergers News
MGIC said it had invested $466 million of equity in C-BASS as of June 30, with an additional $50 million drawn in July under a $50 million unsecured credit facility that the company had provided C-BASS.
Read more at Reuters.com Mergers News
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