Radian reduces mortgage loan repurchase facility from $300M to $150M

RADIAN GROUP INC

Repurchase facility for residential mortgage loans reduced from $300M to $150M via Amendment No. 1 dated April 17, 2023.
Radian Group Inc. reaffirmed its guaranty of subsidiary Radian Mortgage Capital LLC's obligations under the amended MRA.
Facility remains uncommitted; Bank of Montreal has no obligation to fund purchases under the amended facility.
Other terms of the Master Repurchase Agreement and Guaranty Agreement remain unchanged.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RADIAN GROUP INC amended Amendment No. 1 with Bank of Montreal valued at $150 million (effective 2023-04-17).

Action: amendment
Agreement: credit facility
Counterparty: Bank of Montreal
Value: $150 million
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023, RMC, the Company and BMO entered into Amendment No. 1 (the “Amendment”) to amend the MRA, pursuant to which RMC voluntarily reduced the size of the mortgage loan purchase facility from $300 million to $150 million (as amended, the “Amended MRA”).

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Source: SEC EDGAR

accession 0001193125-23-105047

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