Radian Guaranty Inc. RADIAN
Master Policy
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Condition One -- Definitions ............................................... 3
A. Advances ............................................................... 3
B. Appropriate Proceedings ................................................ 3
C. Approved Sale .......................................................... 4
D. Application for Insurance .............................................. 4
E. Borrower ............................................................... 4
F. Borrowers Own Funds .................................................... 4
G. Borrowers Title ........................................................ 4
H. Certificate ofInsurance ................................................ 4
I. Claim .................................................................. 4
J. Claim Settlement Period ................................................ 4
K. Commitment of Insurance ................................................ 5
L. Default ................................................................ 5
M. Deficiency ............................................................. 5
N. Early Default .......................................................... 5
O. Effective Date ......................................................... 5
P. Fair Market Value ...................................................... 5
Q. Insured ................................................................ 5
R. Loan ................................................................... 5
S. Loss ................................................................... 5
T. Merchantable Title ..................................................... 6
U. Perfected Claim ........................................................ 6
V. Physical Damage ........................................................ 6
W. Property ............................................................... 6
X. Servicer ............................................................... 6
Y. Settlement Due Date .................................................... 6
Z. Third-Party Misrepresentation or Fraud ................................. 6
Condition Two -- Application for Insurance,
Commitment of Insurance, Initial Premium,
Representations of the Insured ............................................. 7
A. Application for Insurance and Commitment of Insurance ................... 7
B. Initial Premium, Compliance with Conditions ............................. 7
C. Representations of the Insured .......................................... 7
Condition Three --
Term of Coverage, Renewal .................................................. 8
A. Term of Coverage ........................................................ 8
B. Renewal ................................................................. 8
Condition Four --
Cancellation, Termination .................................................. 8
A. Cancellation by the Insured ............................................. 8
(1) Certificate of Insurance ............................................ 8
(2) Master Policy ....................................................... 9
B. Cancellation by the Company ............................................. 9
(1) Certificate of Insurance ............................................ 9
(2) Master Policy ....................................................... 9
C. Termination of Coverage, Conditions Subsequent .......................... 9
Condition Five --
Exclusions From Coverage ................................................... 10
A. Balloon Payment ......................................................... 10
B. Prior Delinquencies ..................................................... 10
C. Incomplete Construction ................................................. 10
D. Misrepresentation and Fraud ............................................. 10
E. Negligence of Insured or Servicer ....................................... 10
F. Physical Damage ......................................................... 11
Condition Six -- Conditions
Precedent to Payment of Claim .............................................. 11
A. Conditions Precedent .................................................... 11
(1) Notice of Defaultor Early Default ................................... 11
(2) Monthly Default Reports; Report of Proceedings ...................... 11
(3) Appropriate Proceedings ............................................. 11
B. Failure to Comply ....................................................... 12
Condition Seven Loan Servicing ............................................. 12
Condition Eight Approved Sale .............................................. 13
A. Settlementon Basis of Approved Sale ..................................... 13
B. Settlement if Approved Sale Does Not Close .............................. 13
Condition Nine Mitigation ofDamages ........................................ 14
A. Mitigation ofDamages .................................................... 14
B. Sale of the Property by the Insured ..................................... 14
C. Failure to Mitigate ..................................................... 14
Condition Ten Option to Acquire Loan ....................................... 15
Condition Eleven Loss Payment Procedure .................................... 15
A. Submission of Claim ..................................................... 15
B. Calculation of Loss ..................................................... 16
C. Deficiency Judgments .................................................... 17
D. Claim Requirements ...................................................... 18
Condition Twelve Claim Settlement Option ................................... 19
Condition Thirteen Claim Payment Procedure ................................. 19
A. Additional Documentation ................................................ 20
B. Access .................................................................. 20
C. Acquisition ............................................................. 20
D.Late Payment ............................................................. 20
E. Rescission / Denial ..................................................... 20
Condition Fourteen
Duty of Cooperation ........................................................ 20
Condition Fifteen Companys Right of Subrogation ............................ 21
A. Subrogation ............................................................. 21
B. Impairment of Subrogation ............................................... 21
Condition Sixteen Limitation ofActions ..................................... 21
Condition Seventeen Notices ................................................ 22
Condition Eighteen --
EntireAgreement, Endorsement, Severability ................................. 22
A. Entire Agreement ........................................................ 22
B. Endorsement ............................................................. 22
Condition Nineteen Beneficiaries Under Policy .............................. 22
Condition TwentyArbitration ................................................ 23
Condition Twenty-One Conformity to Statute ................................. 23
Signatures ................................................................. 25
Short Rate Cancellation Schedule Annual Premium Plans ...................... 26
Short Rate Cancellation Schedule Single Premium Plans ...................... 27
Master Policy
In consideration of the premium paid, and in reliance upon the representations
in the Application for Insurance, Radian Guaranty Inc., a Pennsylvania
corporation (a stock mortgage insurance company hereinafter referred to as the
"Company") agrees to pay to the Insured the Loss resulting from the Default of
the Borrower, subject to all of the terms and conditions contained in this
Policy.
Conditions
Condition One - Definitions
The following words and phrases shall have the specific meanings as set forth in
this Condition One when used in this Policy:
A. Advancesmeans only the following expenses advanced by the Insured:
(1) Reasonable and customary hazard insurance premiums.
(2) Taxes, assessments and other public charges imposed upon the Property.
(3) Customary expenses necessary for preservation of the Property.
(4) Condominium fees, homeowner association dues and other shared property
fees.
(5) All other reasonable and necessary expenses incurred in the Appropriate
Proceedings, including attorney's fees not in excess of three percent
(3%) of the delinquent principal and interest at the time a Claim is
filed, and customary court costs; provided, however, that reasonable
attorney's fees incurred pursuant to Condition Eleven (C) shall not be so
limited.
(6) Necessary and customary costs for eviction proceedings, including related
attorney's fees.
B. Appropriate Proceedingsmeans any action or proceeding which vests in the
Insured all of the Borrower's rights and title in and to the Property
including, but not limited to, foreclosure by public or private sale or
voluntary conveyance from the Borrower; provided, however, that such action
or proceeding shall not be inconsistent with the requirements of Conditions
Six, Nine and Fifteen of this Policy and is permitted by applicable law.
C. Approved Sale means the sale of the Property by the Borrower with the consent
of the Insured, or by the Insured after the acquisition of the Property, the
terms of which in either case have been approved by the Company pursuant to
Condition Nine of this Policy; redemption of the Property from the Insured
after it acquires Borrower'sTitle; or the sale of the Property at a
foreclosure sale to a third-party bidder pursuant to Condition Six (A)(3)(c)
of this Policy.
D. Application forInsurancemeans all documents, materials, statements and
exhibits, whether or not prepared by the Insured, submitted to the Company by
or on behalf of the Insured for the purpose of obtaining a Commitment of
Insurance or a Certificate of Insurance.
E. Borrowermeans the person or persons designated as such on the face of the
Application for Insurance and/or the Certificate of Insurance, and includes
any co- borrower, co-signer, co-obligor, guarantor, or other maker of the
note, mortgage, or other instrument of indenture, whether or not specifically
listed on the Application for Insurance and/or the Certificate of Insurance.
F. Borrower'sOwn Fundsmeans any funds owned by the Borrower, and not borrowed
from other sources, or subject to any rebate, refund or repayment.
G. Borrower'sTitle means the Insured's possession and control of the Property,
as evidenced by: (i) an executed Trustee's or Sheriff's deed (which need not
reflect recordation) or other evidence satisfactory to the Company that the
foreclosure sale has been completed, or (ii) a deed from the Borrower in the
case of a voluntary conveyance to the Insured, conveying title to the
Insured, and (iii) the expiration of any applicable redemption period, unless
the Insured elects to file the Claim prior to expiration, subject to
Condition Eleven of this Policy.
H. Certificate ofInsurance means a certificate issued by the Company to the
Insured, in accordance with the terms of this Policy, to extend insurance
coverage to the Loan therein described. A Certificate may take the form,
without limitation, of a facsimile, electronic computer tape or other
agreed-upon data interchange.
I. Claim means a written request for payment of a Loss, made on a form or in a
manner acceptable to the Company.
J. Claim SettlementPeriod means the period starting when the Claim is initially
filed and ending at the close of business on the Settlement Due Date.
K. CommitmentofInsurancemeans any commitment issued by the Company to the
Insured, setting forth the terms and conditions under which the Company will
extend insurance coverage to a Loan in accordance with this Policy.
L. Defaultmeans the failure of the Borrower to pay when due an amount equal to
or greater than one (1) monthly regular periodic payment in accordance with
the terms of a Loan.
M. Deficiencymeans all amounts due and owing under a Loan on which a Default has
occurred, and remaining after the conclusion of Appropriate Proceedings,
pursuant to applicable state law.
N. EarlyDefaultmeans the failure of the Borrower to make any of the initial
twelve (12) monthly payments in accordance with the terms of a Loan so that
sums equal to the aggregate of two (2) such monthly payments have not been
paid when due.
O. Effective Datemeans, with respect to an insured Loan, the closing date of
such Loan, or, such later date as may be requested by the Insured and
approved in writing by the Company.
P. Fair Market Value means, with regard to the amount bid for any Property at a
foreclosure sale, the Property's value at the approximate time of the
foreclosure sale as determined by appraisal, if available, or in accordance
with customary servicing practices (which may include reliance on information
provided by a local real estate broker), subject to applicable law governing
foreclosure.
Q. Insured means the named Insured or any party (i) to whom coverage has been
granted by the Company, or (ii) that is a subsequent assignee or transferee
owner of a Loan that has requested to become the insured. If however, the
Company has not been notified in writing of such assignment or transfer, the
Company's sole obligation hereunder shall be to the named Insured.
R. Loan means the indebtedness of the Borrower to the Insured in the amount and
for the term specified on the face of the Certificate of Insurance, which is
evidenced by a written obligation and secured by a mortgage, deed of trust or
other instrument, which is a first lien or charge on the Property, and which
is insured under this Policy or intended to be insured in accordance with the
terms of a Commitment of Insurance.
S. Loss means the amount of loss suffered or incurred by the Insured determined
pursuant to the provisions of Condition Eleven of this Policy.
T. Merchantable Title means title to the Property which is readily salable and
freely transferable, and which is free and clear of all liens, defects and
encumbrances including, without limitation, rights of parties in possession
and rights of redemption (unless, in either or both cases, the Company waives
in writing its right to take the Property free of such rights), excepting
only:
(1) the lien of current general real estate taxes and other public charges
and assessments not yet due and payable;
(2) easements for public utilities, building restrictions and the effect of
building laws or regulations with which the improvements on the Property
comply, which do not impair the use of the Property and the improvements
thereon for their intended purposes;
(3) tenants under leases approved in writing by the Company; and
(4) such minor imperfections of title as would not impair the use and
enjoyment of the Property as a residence.
Merchantable Title does not exist if there is a lien on the Property pursuant
to federal or state law providing for liens in connection with the cleanup of
environmental conditions, or if notice has been given of commencement of
proceedings which could result in such a lien.
U. Perfected Claim means a Claim containing all of the information and proof
reasonably required by the Company to evaluate its liability with respect
thereto.
V. Physical Damage means any tangible injury to the Property, whether caused by
accident, natural occurrence or otherwise, excluding normal wear and tear.
W. Propertymeans the residential real property, designed for occupancy by not
more than four (4) families, identified on the face of a Certificate of
Insurance, and shall include all appurtenances, rights of access and
improvements thereon which secure the Loan.
X. Servicermeans the entity servicing a Loan on behalf of the Insured. The
Servicer is deemed to be the representative of the Insured for purposes of
the Policy.
Y. SettlementDue Date means the date sixty (60) days after receipt of a Claim by
the Company, subject to the extensions of time set forth in Condition
Thirteen of this Policy.
Z. Third-Party Misrepresentation or Fraud means a misrepresentation or fraud by
anyone other than the Insured, its employees or agents. For purposes of this
definition, the Insured's agents shall include any mortgage broker and/or
intermediary originating the Loan, or anyone under contract with such persons
in connection with the origination of the Loan, such as an appraiser or
escrow agent.
Condition Two - Application for Insurance, Commitment of Insurance,
Initial Premium, R epresentations of the Insured
A. Application for Insurance and Commitment of Insurance The Insured shall
submit an Application for Insurance to the Company in connection with each
Loan for which coverage under this Policy is desired. The Company shall
provide forms of Application for Insurance to the Insured and the Insured
shall comply with the requirements contained therein. Approval of
anyApplication for Insurance shall be at the discretion of the Company and
shall be communicated to the Insured in the form of a Commitment of
Insurance. Each Application for Insurance shall be deemed to be part of this
Policy and incorporated herein by this reference. If the Borrower's
application for a Loan is denied, the Company shall bear no responsibility
for notifying the Borrower of the decision pursuant to applicable state or
federal law.
B. Initial Premium, C ompliance with Conditions
(1) Within ten (10) days after the Effective Date, the Insured shall forward
to the Company the initial premium as shown on the face of the Commitment
of Insurance.
(2) The obligation of the Company to extend insurance coverage to a Loan for
which a Commitment of Insurance has been issued, or pay any Loss in
respect thereof, is expressly conditioned upon the Insured's compliance
with the provisions of this Policy and any conditions shown on the
Commitment of Insurance and the timely receipt by the Company of the
initial premium; provided, however, that any special conditions shall
expire upon the Company's acceptance of renewal premium or a period of
one (1) year from the Certificate effective date, whichever is longer.
(3) Upon compliance by the Insured with the Commitment of Insurance and upon
receipt by the Company of the initial premium, the Company shall issue a
Certificate of Insurance to the Insured, or a Certificate of Insurance
previously issued to the Insured shall become effective and bind the
Company under this Policy as of the Effective Date.
C. Representations of the Insured
An Application for Insurance shall be deemed a representation by the Insured
to the Company, and the Commitment of Insurance and Certificate of Insurance
shall be deemed to have been issued in reliance thereon.
Condition Three - Term ofCov erage, Renewal
A. Term ofCov erage
A Certificate of Insurance shall be in force and provide coverage for the
period of time shown on the face thereof, unless renewed in accordance with
Condition Three (B), below. Upon renewal, the Certificate of Insurance shall
continue in force for the applicable renewal period.
B. Renewal
A Certificate of Insurance may be renewed at the option of the Insured upon
payment of the applicable renewal premium and delivery of instructions
identifying the Loan or Loans for which the premium is being paid, provided
that such instructions and payment are received by the Company within thirty
(30) days after the expiration of any coverage or renewal period. If the
Certificate of Insurance is not renewed as set forth herein, coverage under
the Certificate of Insurance shall terminate for Defaults not then existing
as of 12:01 A.M. on the day following the expiration date thereof, or of the
then-current renewal period. The Company shall provide notice of renewal
dates to the Servicer (or, if the Company has not been informed of a
Servicer, to the Insured).
A lapse of coverage for failure to pay premiums when due which affects a
group of Loans may be cured upon written notification to the Company by the
Insured, a transferee Servicer or the owner of the Loans, that the failure to
pay the renewal premiums was the result of a servicing transfer, seizure or
forfeiture, provided that such notification occurs within three (3) months of
the servicing transfer.
Condition Four - Cancellation, Termination
A. Cancellation bythe Ins ured
(1) Certificate of Insurance The Insured or its Servicer may, at any time, by
written notice to the Company, cancel a Certificate of Insurance. Such
cancellation shall relieve the Company of liability for any Default
unless a Claim has been submitted prior to such cancellation. Upon
receipt by the Company of the original copy of the Certificate of
Insurance or a notice of cancellation acceptable to the Company, the
appropriate portion of the premium will be refunded to the Insured
pursuant to the Cancellation Schedule appended hereto and made a part
hereof. However, no refund shall be remitted if a Claim has been
submitted, or if the premium plan selected by the Insured does not
provide for a return of premium.
(2) Master Policy
The Insured may, at any time, by written notice to the Company, cancel
this Policy, and such cancellation shall be effective as of the date of
such notice, provided that the conditions of this Policy shall remain
applicable to any Loans insured here-under prior to such cancellation.
B. Cancellation bythe C ompany
(1) Certificate of Insurance Subject to applicable law, the Company may
cancel a Certificate of Insurance only upon the failure of the Insured to
pay any premium or comply with any condition as required by this Policy.
(2) Master Policy
Subject to applicable law, the Company may, at any time, by written
notice to the Insured, cancel this Policy, and such cancellation shall be
effective as of the date of such notice, provided that the conditions of
this Policy shall remain applicable to any Loans insured hereunder prior
to such cancellation.
C. Termination ofCov erage, ConditionsS ubsequent
Notwithstanding any other provision of this Policy, the coverage extended to
any Loan by a Certificate of Insurance may be terminated at the Company's
sole discretion, immediately and without notice, if, with respect to such
Loan, the Insured shall permit or agree to any of the following without prior
written consent of the Company:
(1) Any material change or modification of the terms of the Loan including,
but not limited to, the borrowed amount, interest rate, term or
amortization schedule, excepting such modifications as may be
specifically provided for in the Loan documents, and permitted without
further approval or consent of the Insured.
(2) Any release of the Borrower from liability for the Loan.
(3) Any assumption of liability for the Loan, with or without release of the
original Borrower from liability therefor.
(4) Any change in the Property.
(5) Any sale or transfer of the servicing of a Loan to an entity not approved
in writing by the Company as a servicer, subject to the provisions of
Condition Seven of this Policy.
In the event that the Company elects to terminate the coverage pursuant to
the above Conditions, it will make a refund of any applicable premium and/or
renewal premium, prorated to the date of the event giving rise to
termination.
Condition Five - Exclusions From Coverage
It is understood and agreed that the Company shall not be liable for and the
Policy shall not apply, extend to or cover the following:
A. Balloon Payment
Any Loss arising out of or in connection with failure of the Borrower to make
any payment of principal and/or interest due under a Loan which payment
arises because the Insured exercises its right to call or accelerate such
Loan (except as a result of a Default) or because the term of such Loan is
shorter than the amortization period, and which payment is for an amount more
than twice the regular periodic payments of principal and interest (including
any additional amounts escrowed for taxes or insurance) that are set forth in
such Loan (commonly referred to as a "Balloon Payment"). This exclusion shall
not apply to Loss resulting from the refusal of the Borrower to accept an
extension or renewal from the Insured or its Servicer of the Loan at market
rates.
B. Prior Delinquencies
Any Loss arising from a Default if, as of the Effective Date of the
Certificate of Insurance, a delinquency exists with respect to any payment
under the Loan.
C. Incomplete Construction
Any Loss, if, as of the date of the related Claim, construction of the
Property has not been completed in accordance with the construction plans and
specifications.
D. Misrepresentation and Fr aud
Any Loss for which a Claim is made in connection with a Certificate of
Insurance issued in reliance upon an Application for Insurance containing any
material misstatement, misrepresentation or omission, whether intentional or
otherwise or as a result of any act of fraud; provided, however, that unless
the Insured had knowledge of or
participated in a Third-Party Misrepresentation or Fraud at the time it was
made, the Company shall not rescind or deny coverage, or adjust any Claim
based on such Third-Party Misrepresentation or Fraud if the Borrower has made
twelve consecutive monthly payments from the Borrower's Own Funds.
E. Negligence of Insured or Servicer
Any Loss arising out of any negligence of the Insured or Servicer in the
origination or servicing of a Loan which negligence is either the proximate
cause of such Loss or materially increases the risk insured, provided that if
the Company can reasonably determine the amount by which such negligence
increased the Loss as calculated in Condition Eleven (B), its remedy shall be
to adjust the Loss accordingly.
F. Physical Damage
Any cost or expense related to the repair or remedy of any Physical Damage to
the Property, including but not limited to Physical Damage arising from the
following causes; (i) contamination by toxic or hazardous waste, chemical, or
other substances, (ii) earthquake, flood, or any act of God, (iii) civil war
or riot, or (iv) any defects in the construction of the Property not
identified in the Application.
Condition Six - ConditionsPr ecedent to Payment of Claim
A. ConditionsPr ecedent
The Insured must comply with each of the following requirements as a
condition precedent to any obligation of the Company under this Policy:
(1) Notice of Default or Early Default
The Insured shall, within fifteen (15) days, and notwithstanding any
subsequent cure, give the Company written notice, on forms acceptable to
the Company, of (i) any Loan that is three (3) months in Default, or (ii)
any Loan for which there is an Early Default.
(2) Monthly Default Reports; Report of Proceedings
The Insured shall give the Company monthly reports, on forms acceptable
to the Company, detailing servicing efforts with respect to each Loan for
which notice to the Company is required under Condition Six of this
Policy. Monthly reports shall contain all of the information and
documentation reasonably requested by the Company, including, but not
limited to, the condition of the Property, status of Borrower contact
efforts and status of Appropriate Proceedings.
Monthly reports shall continue with respect to each such Loan until such
Default or Early Default has been cured or until title to the Property
has been acquired by the Insured. The Insured shall provide the Company
with written notice within fifteen (15) days after the Insured has
knowledge of the commencement of any proceeding, including Appropriate
Proceedings, which affects the Loan, the Property, or the Insured's or
Borrower's interest therein.
(3) Appropriate Proceedings
Subject only to the provisions of Conditions Nine and Fifteen below:
(a) The Insured shall commence and diligently pursue Appropriate
Proceedings, but in no event later than six (6) months after it is
permitted to do so pursuant to the terms of the Loan and applicable
law. If directed by the Company, the Insured shall commence
Appropriate Proceedings as soon as it is permitted to do so pursuant
to the terms of the Loan and applicable law.
(b) The Insured shall furnish the Company with copies of all notices and
pleadings filed or required in connection with Appropriate
Proceedings.
(c) Bidding instructions.
(i) The Company may give specific foreclosure sale bidding
instructions to the Insured that do not require a minimum bid of
less than Fair Market Value, and in accordance with applicable
law, provided that the Company will not specify a maximum bid of
less than the uninsured Loan amount, and, if the Property will be
subject to redemption for less than the outstanding amount owed
by the Borrower, the Company will not specify an opening bid of
less than the uninsured Loan amount. For this purpose, the
uninsured Loan amount shall be the estimated Loss calculated
pursuant to Condition Eleven (B), less the percentage thereof
payable pursuant to Condition Twelve (A)(2).
(ii) In the absence of specific bidding instructions, the Insured may
control the bidding process.
(iii) In the event of either (i) or (ii), above, unless the Company
elects in writing prior to the foreclosure sale to purchase the
Property, any third- party purchase at foreclosure will be
treated as an Approved Sale pursuant to Condition Eight (A) of
this Policy.
B. Failure to Comply
The failure of the Insured to comply with any of the foregoing conditions
precedent will give the Company, at its sole discretion, the right to declare
any liability or obligation under this Policy null and void with respect to
the applicable Certificate of Insurance, provided that violations of timing
requirements shall result only in a reduction of the Loss to the estimated
extent of the prejudice suffered by the Company for the violation, and shall
not result in cancellation of coverage unless the timing violation exceeds
one year from the required date of submission.
Condition Seven - Loan Servicing
Every Loan insured under this Policy shall be serviced in a reasonable and
prudent manner and consistent with the highest standards of servicing in use in
the residential mortgage industry. Such servicing shall include, but not be
limited to, diligent efforts to cure a Default, including Borrower contact, and
prompt reporting of any Default to the appropriate credit reporting bureau(s).
If the servicing of a Loan is sold, assigned or transferred by the Insured or by
the Servicer, coverage shall continue hereunder; provided that notice thereof is
given to the Company and the Loan continues to be serviced by an entity approved
by the Company.
If the Company disapproves a Servicer, or if the Loan is transferred to a
previously disapproved or unapproved Servicer, the Insured, (or the owner of the
Loan, if the Company has been notified of an owner other than the Insured),
shall have ninety (90) days in which to replace the Servicer with one approved
by the Company.
Condition Eight- Approved Sale
A. Settlement on Basis of Approved Sale
If an Approved Sale is consummated in accordance with the terms set forth
hereinabove, with respect to such Approved Sale:
(1) The Company hereby waives its right to exercise its option to acquire the
Property pursuant to Condition Twelve (A)(1) of this Policy, and releases
the Insured from the obligation to tender Merchantable Title pursuant to
Condition Twelve or Borrower's Title to the Property pursuant to
Condition Eleven (A)(1) of this Policy;
(2) The Insured shall have the sole right to receive the net proceeds of such
Approved Sale and acceptance of such net proceeds in satisfaction of the
Loan shall not prejudice the Insured hereunder; and
(3) In calculating the net proceeds of such Approved Sale, all the Insured's
reasonable costs of obtaining and closing the sale shall be deducted from
the gross proceeds of the sale.
(4) Company shall pay to the Insured, in full settlement of its obligation to
the Insured with respect to the Loss to which such Approved Sale is
related, the lesser of:
(a) the entire amount of such Loss determined pursuant to Condition
Eleven of this Policy; or
(b) the percentage of such Loss, computed without deduction of the net
proceeds of the Approved Sale, specified in the applicable
Certificate of Insurance and in accordance with the premium plan
under which the Loan is insured.
B. Settlement if Approved Sale Does Not Close
If an Approved Sale does not close, the Company may settle under either of
the settlement options set forth in Condition Twelve (A), provided that if
the Settlement Due Date has passed, (i) interest as provided for in Condition
Thirteen (D) shall be payable, and (ii) if the Company wishes to settle under
Condition Twelve (A)(1), the Insured's obligations in connection with the
transfer of the Property to the Company shall be as required by this Policy
subject to the limitation that they shall not be more burdensome to the
Insured than its obligations (including, but not limited to, its obligations
as to the condition of the Property) as seller in the Approved Sale that
failed to close.
Condition Nine - M itigation of Damages
A. Mitigation of Damages
The Insured shall actively cooperate with the Company to prevent and mitigate
Loss including, without limitation, the collection of rents, the assertion of
its rights in and to any collateral or security in its custody or control,
assertion of rights against the Borrower, and prompt reporting to the Company
of any preforeclosure sale offers. If a preforeclosure sale is approved by
the Company and the Insured, but for any reason the sale does not close, then
the Company shall continue to administer the Policy as if no sale had been
attempted. The Company may assist the Insured in efforts to mitigate any
Loss.
The Company shall actively cooperate with the Insured to administer the
Policy in such a way as to not increase the Insured's uninsured loss,
pursuant to the reciprocity and mutuality of the parties'obligations.
B. Sale of the Property by the Insured
The mitigation efforts of the Insured shall also include diligent efforts to
market any Property for which it has obtained Borrower'sTitle. After
obtaining Borrower'sTitle, the Insured shall submit to the Company any offer
for sale of the Property that would be acceptable to the Insured and would
result in a lower Claim settlement under Condition Eight (A) than under the
percentage payment option of Condition Twelve (A)(2), so long as the Company
has not notified the Insured that it will acquire the Property, and its right
to acquire the Property has not been waived, or expired pursuant to Condition
Twelve (B). Any such sale offer shall be approved or rejected by the Company
in its entirety.
For purposes of this Condition, a sale offer submitted to the Company shall
consist of an offer to purchase the Property received by the Insured,
together with a schedule of (i) expense items proposed by the Insured to be
included in the settlement amount if the Property sale closes, and (ii) the
insured's then-estimated amounts thereof.
The Insured, if requested by the Company, shall authorize its broker to
release to the Company such marketing information concerning the Property as
the Company may request, unless or until the Insured shall have notified the
broker that the Company's right to acquire the Property has expired or been
waived.
C. Failure to Mitigate
If the Insured breaches its duty to prevent and mitigate Loss, then the
Company's remedy shall be to reduce the Insured's Loss by the reasonably
estimated extent of the resulting prejudice to the Company, rather than to
deny the Claim.
Condition Ten - Option to Acquire Loan
At any time after a Default, and prior to the conclusion of Appropriate
Proceedings, the Company shall have the option to acquire the related Loan. The
Company shall exercise such option in writing and within thirty (30) days after
the date thereof, the Insured shall furnish to the Company a written statement
of the acquisition cost of such Loan. The acquisition cost shall be computed in
the same manner as the computation of Loss set forth in Condition Eleven of this
Policy, except that interest shall be calculated only through the date of
acquisition. Payment of the acquisition cost so computed shall be made by the
Company to the Insured within thirty (30) days after the receipt of such
statement from the Insured together with all supporting documentation reasonably
required by the Company. Contemporaneously therewith, Insured shall execute and
deliver to the Company, or its nominee, such instruments or documents which the
Company may reasonably require to effect or confirm the assignment or transfer
of the Loan and any right, title or interest of the Insured in and to the
Property,Appropriate Proceedings and any other collateral or security. In
addition, Insured shall assign and deliver to the Company existing fire, hazard
and title insurance policies relating to the Loan. The assignment or transfer of
the Loan, any other collateral or security, and all related documents by the
Insured to the Company shall constitute a warranty by the Insured that it has
good title to such Loan, collateral, security and related documents, free and
clear of all liens and encumbrances, and that there are no setoffs or
counterclaims which may be asserted by the Borrower, and that the Insured has
done nothing to impair the validity and enforceability of its rights with
respect to such Loan, such collateral or security and such related documents.
Condition Eleven - LossPa yment Procedure
A. Submission ofCl aim
(1) A Claim may not be submitted to the Company prior to the Insured's
acquisition of Borrower'sTitle to the Property, except in the case of
Approved Sales, as set forth in Condition Eight.
(2) The Insured may submit a Claim prior to the expiration of any applicable
redemption period, provided however, that in the event a Borrower
exercises his redemption rights, the Insured shall reimburse the Company
for the amount (if any) by which the sum of the Claim payment paid plus
the amount realized by the Insured from the redemption of the Property
exceeds the Loss as calculated pursuant to Condition Eleven (B).
(3) Failure by the Insured to submit a Perfected Claim within one year after
the acquisition of Borrower'sTitle to the Property shall relieve the
Company of any obligation or liability with respect to the underlying
Certificate of Insurance.
B.C alculation ofL oss
(1) Loss with respect to any Default insured against hereunder shall be
determined as the sum of:
(a) the unpaid principal balance due under the Loan;
(b) the amount of unpaid accumulated interest due under the Loan,
computed at the contractual rate or rates stated in the Loan
(excluding late charges and penalties), up to the date the Claim is
submitted to the Company, but in no event in excess of two (2) years;
and
(c) the amount of anyAdvances made by the Insured.
In addition, if a Loan has been divided into secured and unsecured
portions pursuant to proceedings under the federal bankruptcy laws, the
amount in clause (a) above shall include the unpaid principal due under
the unsecured portion of the Loan, even if the Borrower has been
released from such debt, and the amount in clause (b) above shall
include interest thereon computed at the contract rate or rates stated
in the Loan from the date of Default through the date referred to in
clause (b).
(2) Such Loss shall be reduced by the following, insofar as not previously
applied to the repayment of the Loan:
(a) the unpaid interest due under the Loan, calculated in accordance with
Condition Eleven (B)(1), accruing after the Insured has acquired
Borrower's Title to the Property for a period of sixty (60) days;
(b) the amount of all rent and other payments (excluding proceeds of fire
and extended coverage insurance) which have been received by the
Insured and which are in any way related to the Property;
(c) any amount remaining in any related escrow account or security
deposit in the custody or control of the Insured as of the date of
last payment; and
(d) the amount of any payments on the Loan received by the Insured after
the date of Default;
(e) the amount of any benefits paid under any fire and extended coverage
policies which is in excess of the actual cost of restoring and
repairing the Property;
(f) the remaining amount, if any, of unused interest buydown funds,
discounts, or similar features of the Loan;
(g) When the Company elects to purchase the Property pursuant to
Condition Twelve (A)(1), or when the Company elects to pay the
percentage option pursuant to Condition Twelve (A)(2), and a casualty
event, coupled with a lack of insurance for such casualty, was the
most important cause of the Default; the entire cost to repair or
remedy any Physical Damage in excess of $1,500.00 to the Property to
the extent such Physical Damage has not been previously repaired or
remedied; and
(h) the net proceeds of anyApproved Sale; and
(i) the full amount of the entire proceeds awarded in or resulting from a
condemnation or a sale in lieu of condemnation.
C. Deficiency Judgments
If either the Insured or the Company intends to pursue a deficiency judgment
against the Borrower, no later than during the Claim Settlement Period the
party that is the proponent of pursuing a deficiency will promptly notify the
other party of its intent and the parties will determine whether the
deficiency judgment will be sought for the account of such proponent or for
the account of both parties. If, pursuant to the instructions of the Company,
the Insured has pursued a manner of foreclosure other than the usual and
customary manner so that a deficiency judgment may be preserved and pursued,
the Company will be deemed the proponent. If the Insured, without
instruction, has pursued a manner of foreclosure other than the usual and
customary manner so that a deficiency judgment may be preserved and pursued,
the Insured will be deemed the proponent. Further, the Insured will be deemed
the proponent, and the determination is not required, if the Company is
prohibited by law from pursuing a deficiency judgment against the Borrower.
To facilitate such determination on an informed basis, either party may
request pertinent deficiency information from the other. Each party will
provide such information if requested, but is not obligated to seek
additional information solely to respond to the request. If the Claim as
initially filed does not indicate whether the Insured intends to pursue a
deficiency and/or does not provide such information as the Insured may have
relevant to whether a deficiency should be pursued, the Company may request
the information as provided in Condition Thirteen (A).
If the amount of Loss calculated pursuant to Condition Eleven (B) has been
increased because of the desire of either the Insured or the Company to
preserve and pursue deficiency rights, the excess shall be determined. In
determining such excess, the three percent (3%) limitation of Condition One
(A)(5) will not be applied to exclude amounts that are necessary to preserve
and/or pursue the deficiency rights. If the deficiency rights will be pursued
solely by the Insured, the Loss shall be adjusted to exclude such excess. If
the deficiency rights will be pursued solely by the Company, the amount paid
by the Company pursuant to Condition Eight, Condition Ten or Condition Twelve
shall include all of such excess, regardless of the settlement option the
Company may select. If the deficiency judgment is to be pursued for the
account of both parties, any expenses the Company incurred (other than staff
time or other internal costs) to preserve and/or pursue the deficiency rights
will be added to such excess, and the total shall be allocated between the
Insured and the Company in accordance with their pro rata shares referred to
in Condition Fifteen (A). The Loss paid pursuant to Condition Eight or
Condition Twelve will be adjusted to reflect such allocation of
deficiency-related expenses. Subsequent deficiency-related expenses
(including collection expenses, insofar as not satisfied from sums collected,
but excluding staff time or other internal costs of either party), and any
and all amounts recovered (net of collection expenses) also will be allocated
to the parties in such pro rata shares.
After the Company's payment of the Loss, management and control of deficiency
rights being pursued for the account of both parties will be governed by
reasonable agreement of the parties.
D. Claim R equirements
In order to make a Perfected Claim, the Insured must provide the Company with
the following:
(1) A properly completed Claim on a form furnished or approved by the Company
requesting payment of the Loss;
(2) All information requested on such form, all documentation requested or
reasonably necessary to complete such form, and all other information
and/or documentation reasonably requested by the Company in connection
with its review of the Claim;
(3) Evidence satisfactory to the Company that the Insured has Borrower'sTitle
to the Property, except where there has been an Approved Sale or the
Company has elected to acquire the Property;
(4) If the Company elects to acquire the Property, evidence that the Insured
has acquired and can convey Merchantable Title; and
(5) Access to the Property for purposes of determining its condition and
value, if requested by the Company.
Condition Twelve - Claim Settlement Option
A. In settlement of any Claim, unless the Claim is paid pursuant to Condition
Eight (A), the Company in its sole discretion, and at its option, may elect
to pay the Insured either:
(1) the entire amount of the Loss, and upon such payment, the Insured shall
convey Merchantable Title to the Property to the Company (or its
nominee); or
(2) the percentage of the Loss specified in the applicable Certificate of
Insurance and in accordance with the premium plan under which the Loan is
insured and, in such event, the Company shall have no right to acquire
the Property.
B. The Company shall make its election within the sixty (60) day period set
forth in Condition Thirteen, below. If the Company does not make its election
within such time, its option to acquire the Property shall be deemed waived
by the Company except as described in Condition Eight (B).
C. Upon the election and payment by the Company of the sum due under this
Condition Twelve, or due under either Condition Eight (A) or Condition Ten,
and any additional sum due under Condition Eleven (C), the liability of the
Company under the related Certificate of Insurance will be fully and finally
discharged.
Condition Thirteen - Claim Pa yment Procedure
Any payment of Loss required to be made to the Insured with respect to any Claim
shall be payable within sixty (60) days after receipt of such Claim, if the
Claim has become a Perfected Claim, subject to the following conditions:
A. Additional Documentation
The Company shall, within twenty (20) days of the filing of the initial
Claim, request additional items necessary to complete its review of the
Claim. The sixty (60) day period shall be suspended until the Company
receives the requested items. Additional items may be requested by the
Company after the initial twenty (20) day period, but the sixty (60) day
limit will not be tolled for their receipt.
B. Access
If access is sought to the Property by the Company, and is not provided, the
running of the sixty (60) day period shall be suspended, and will resume when
access is available, and the Insured so notifies the Company.
C. Acquisition
If the Company elects to acquire the Property, the sixty (60) day period
shall be further extended if and insofar as necessary for there to be ten
(10) days remaining after the Insured tenders Merchantable Title to the
Property.
D. Late Payment
In the event that the Company does not pay the Claim within the sixty (60)
day period, subject to the above extensions, the Company shall add simple
interest at the Loan rate or rates, accruing from the Settlement Due Date.
E. Rescission/Denial
All Claims shall be either paid, rescinded or denied within one hundred and
twenty (120) days after the Settlement Due Date.
Condition Fourteen - Duty of Cooperation
Whenever requested by the Company, whether or not a notice of Default has been
submitted, the Insured shall cooperate with the Company and furnish all
reasonable aid, evidence and information in the possession of the Insured or to
which the Insured has access with respect to any Loan, including, but not
limited to, all documents, files, computer data or other information requested
by the Company upon reasonable notice. To the extent the Company is prejudiced
by any failure of the Insured to cooperate, the Company's remedy shall be to
reduce the Insured's Loss by the estimated extent of such prejudice.
Condition Fifteen - C ompany's Right of Subrogation
A. Subrogation
Whenever the Company shall have paid a Loss under this Policy, all rights of
subrogation shall vest in the Company to the extent of that payment, and
where permitted by applicable law, pursuant to the following formula:
(1) All of the Insured's deficiency rights against the Borrower will vest in
the Company by subrogation if the Company has acquired the Property
pursuant to Condition Twelve (A)(1), if the Insured has elected not to
share in pursuit of such rights pursuant to Condition Eleven (C), if the
Insured is made whole pursuant to Condition Eight (C)(4)(a), or if the
Company acquires the Loan pursuant to Condition Ten;
(2) None of the Insured's deficiency rights against the Borrower shall vest
by subrogation in the Company if the Company is not entitled by law to
pursue such rights, or if the Company has elected not to share in the
pursuit of such rights pursuant to Condition Eleven (C); and
(3) A pro rata share of the deficiency rights against the Borrower shall vest
in the Company if, pursuant to Condition Eleven (C), such rights will be
pursued for the account of both the Insured and the Company, according to
the reasonable agreement of the parties.
B. Impairment of Subrogation
The Insured shall not act or omit to act to impair the Company's right of
subrogation in any way.
Condition Sixteen - Limit ation of Actions
No suit or action arising from any right of the Insured under this Policy shall
be commenced in any court of law or equity unless the Insured has substantially
complied with all material conditions of this Policy and the Certificate of
Insurance, excepting conditions specifically waived or altered in writing by the
Company, and unless commenced within two (2) years after such right shall first
arise.
Condition Seventeen - Notices
All notices, reports or other documents required or permitted to be given by
either party to the other shall be in writing and shall be forwarded by prepaid
postage to the recipient at the address shown on the face of this Policy or at
such other address as the respective parties may hereafter specify in writing.
Condition Eighteen - Ent ire Agreement, Endorsement, Severability
A. Entire Agreement
This Policy, together with the Certificate of Insurance and the Application
for Insurance, shall constitute the entire agreement between the original
Insured and the Company. No provision, requirement or condition of this
Policy and the Certificate of Insurance shall be deemed to have been waived,
altered, amended or otherwise changed unless stated in writing and duly
executed by the Company.
B. Endorsement
Any endorsement issued by the Company to the Insured contemporaneously with
any Certificate of Insurance shall be deemed to modify the coverage under
this Policy with respect to the Loan described in such Certificate of
Insurance to the extent shown in such endorsement.
Condition Nineteen - Benefici aries Under Policy
The provisions of this Policy and Certificate of Insurance shall inure to the
benefit of and be binding upon the Company and any Insured and its respective
successors. In the event that the Insured assigns a Loan insured hereunder, this
Policy and the related Certificate of Insurance shall continue in force and
effect in favor of such assignee subject to all of the terms and conditions
hereof and further subject to all defenses available to the Company against any
predecessor Insured. In no event shall any Borrower or other person be deemed to
be a party to, or intended beneficiary of, this Policy. No payments made
hereunder to the Insured shall lessen or affect the Insured's rights of recovery
against any Borrower or other person.
Condition Twenty - Arbitration
Unless prohibited by applicable law, the Insured and the Company may agree, in
writing, that any claim or controversy arising out of or related to this Policy
or any breach, interpretation or construction thereof be submitted to
arbitration. In such event, the arbitration proceeding will be held pursuant to
the Title Insurance Arbitration Rules of the American Arbitration Association in
effect on the date the agreement to arbitrate is made.
The decision of the arbitrators shall be made in accordance with the terms and
conditions of this Policy and the laws of the jurisdiction where the related
Property is located. The decision of the arbitrators shall be final and binding
upon the Insured and the Company and judgment upon the award may be entered in
any court having jurisdiction thereof. A copy of the Title Insurance Arbitration
Rules of the American Arbitration Association may be obtained from the Company
upon request.
Condition Twenty-One - Conformity to Statute
Any provision of this Policy which is in clear conflict with the laws of the
jurisdiction in which the Property is located is hereby amended to conform to
the minimum requirements of that law, it being the intention of the Insured and
the Company that the specific provisions of this Policy shall be controlling
whenever possible.
IN WITNESS WHEREOF, the Company has caused its Corporate Seal to be hereto
affixed and these to be signed by its duly authorized officers in facsimile, to
become effective as its original seal and signatures and binding on the Company
by virtue of countersignature by its duly authorized agent where required by
applicable law.
Radian Guaranty Inc.
/s/ ▇▇▇ ▇. ▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
------------------------------ -------------------------------
President Secretary
Date Authorized Agent
Days Percent of
Policy Premium
In Force Refunded
1 ......................................................................... 95
2 ......................................................................... 94
3-4 ....................................................................... 93
5-6 ....................................................................... 92
7-8 ....................................................................... 91
9-10 ...................................................................... 90
11-12 ..................................................................... 89
13-14 ..................................................................... 88
15-16 ..................................................................... 87
17-18 ..................................................................... 86
19-20 ..................................................................... 85
21-22 ..................................................................... 84
23-25 ..................................................................... 83
26-29 ..................................................................... 82
30-32 (1 mos) ............................................................. 81
33-36 ..................................................................... 80
37-40 ..................................................................... 79
41-43 ..................................................................... 78
44-47 ..................................................................... 77
48-51 ..................................................................... 76
52-54 ..................................................................... 75
55-58 ..................................................................... 74
59-62 (2 mos) ............................................................. 73
63-65 ..................................................................... 72
66-69 ..................................................................... 71
70-73 ..................................................................... 70
74-76 ..................................................................... 69
77-80 ..................................................................... 68
81-83 ..................................................................... 67
84-87 ..................................................................... 66
88-91 (3 mos) ............................................................. 65
92-94 ..................................................................... 64
95-98 ..................................................................... 63
99-102 ................................................................... 62
103-105 ................................................................... 61
106-109 ................................................................... 60
110-113 ................................................................... 59
114-116 ................................................................... 58
117-120 ................................................................... 57
121-124 (4 mos) ........................................................... 56
125-127 ................................................................... 55
128-131 ................................................................... 54
132-135 ................................................................... 53
136-138 ................................................................... 52
139-142 ................................................................... 51
143-146 ................................................................... 50
147-149 ................................................................... 49
150-153 (5 mos) ........................................................... 48
154-156 ................................................................... 47
157-160 ................................................................... 46
161-164 ................................................................... 45
165-167 ................................................................... 44
168-171 ................................................................... 43
172-175 ................................................................... 42
176-178 ................................................................... 41
179-182 (6 mos) ........................................................... 40
183-187 ................................................................... 39
188-191 ................................................................... 38
192-196 ................................................................... 37
197-200 ................................................................... 36
201-205 ................................................................... 35
206-209 ................................................................... 34
210-214 (7 mos) ........................................................... 33
215-218 ................................................................... 32
219-223 ................................................................... 31
224-228 ................................................................... 30
229-232 ................................................................... 29
233-237 ................................................................... 28
238-241 ................................................................... 27
242-246 (8 mos) ........................................................... 26
247-250 ................................................................... 25
251-255 ................................................................... 24
256-260 ................................................................... 23
261-264 ................................................................... 22
265-269 ................................................................... 21
270-273 (9 mos) ........................................................... 20
274-278 ................................................................... 19
279-282 ................................................................... 18
283-287 ................................................................... 17
288-291 ................................................................... 16
292-296 ................................................................... 15
297-301 ................................................................... 14
302-305 (10 mos) .......................................................... 13
306-310 ................................................................... 12
311-314 ................................................................... 11
315-319 ................................................................... 10
320-323 ................................................................... 9
324-328 ................................................................... 8
329-332 ................................................................... 7
333-337 (11 mos) .......................................................... 6
338-342 ................................................................... 5
343-346 ................................................................... 4
347-351 ................................................................... 3
352-355 ................................................................... 2
356-360 ................................................................... 1
361-365 ................................................................... 0
Radian Short Rate Cancellation Schedule Single Premium Plans
Master Minimum Retained Premium
Policy Initial Coverages $50.00
Renewal Coverages $10.00
--------------------------------------------------------------------------------
Months Policy In Force Percent of Premium Refunded
--------------------------------------------------------------------------------
3 4 5 6 7 10 12 15
yr. yr. yr. yr. yr. yr. yr. yr.
--------------------------------------------------------------------------------
1.........................................91 92 93 93 94 95 97 98
2.........................................85 87 89 90 91 93 94 96
3.........................................79 82 85 87 89 91 92 93
4.........................................73 77 81 84 85 89 90 92
5.........................................67 72 77 81 83 87 89 90
6.........................................60 67 73 77 80 85 87 89
7.........................................57 63 69 74 77 83 85 88
8.........................................53 60 65 72 75 81 84 86
9.........................................50 58 62 69 71 79 82 85
10........................................47 55 60 66 69 77 80 84
11........................................43 53 58 64 65 75 78 82
12........................................40 50 56 62 63 73 77 81
13........................................37 48 54 60 61 71 75 80
14........................................33 45 52 58 60 69 73 78
15........................................30 43 50 56 59 67 72 77
16........................................25 40 48 54 57 65 70 76
17........................................24 38 46 52 56 63 69 74
18........................................22 35 44 50 54 62 67 73
19........................................20 33 42 48 53 61 65 72
20........................................18 30 40 46 51 60 64 70
21........................................16 28 38 44 50 59 63 69
22........................................15 25 36 42 49 58 62 68
23........................................13 24 34 40 47 57 61 66
24........................................11 22 32 38 46 56 60 65
25........................................10 21 30 36 44 55 60 64
26.........................................8 19 28 35 43 54 58 63
27.........................................7 18 26 32 41 53 57 62
28.........................................7 16 24 31 40 52 57 62
29.........................................5 15 23 30 39 51 56 61
30.........................................4 14 22 29 37 50 55 60
31.........................................4 13 21 28 36 49 54 60
32.........................................3 11 20 26 34 48 53 59
33.........................................2 10 18 25 33 47 53 58
34.........................................2 9 17 24 31 46 51 57
35.........................................1 8 16 23 30 45 51 57
36..............................................7 15 22 29 44 50 56
37..............................................7 14 21 27 43 49 55
38..............................................6 13 20 26 42 48 55
39..............................................5 12 19 24 41 47 54
40..............................................4 11 18 24 40 47 53
41..............................................4 10 17 23 39 46 53
42..............................................3 9 16 22 38 45 52
43..............................................3 9 16 22 37 44 51
44..............................................2 8 15 20 36 43 51
45..............................................2 7 14 20 35 43 50
46..............................................1 7 13 18 34 41 49
47..............................................1 6 12 18 33 41 49
48...................................................5 11 17 32 40 48
49...................................................5 10 16 31 39 47
50...................................................4 10 16 30 38 47
51...................................................4 9 15 29 37 46
52...................................................3 9 14 28 37 45
53...................................................3 8 13 27 36 45
54...................................................2 8 13 26 35 44
55...................................................2 7 12 25 34 43
56...................................................2 7 11 24 33 43
57...................................................1 6 10 24 33 42
58...................................................1 6 10 23 31 41
59........................................................5 9 23 31 41
60........................................................5 9 22 30 40
61........................................................4 8 22 29 39
62........................................................4 8 21 28 39
63........................................................3 7 20 27 38
64........................................................3 7 20 27 37
65........................................................2 6 19 26 37
66........................................................2 6 18 25 36
67........................................................1 5 18 24 35
68........................................................1 5 17 24 35
69........................................................1 5 17 23 34
70.............................................................4 16 23 33
71.............................................................4 16 22 33
72.............................................................4 15 22 32
73.............................................................3 15 22 31
74.............................................................3 14 21 31
75.............................................................3 14 21 30
76.............................................................2 13 20 29
77.............................................................2 13 20 29
78.............................................................2 12 19 28
79.............................................................1 12 18 27
80.............................................................1 11 18 27
81.............................................................1 11 17 26
82.............................................................1 10 17 25
83.................................................................10 16 25
84-85...............................................................9 16 24
86..................................................................9 15 23
87-88...............................................................8 14 23
89..................................................................8 14 22
90-91...............................................................7 13 22
92..................................................................7 13 21
93-94...............................................................6 12 21
95..................................................................6 11 20
96..................................................................5 11 20
97..................................................................5 11 19
98..................................................................5 10 19
99..................................................................5 10 18
100.................................................................4 9 18
101-103.............................................................4 9 17
104.................................................................3 9 16
105-106.............................................................3 8 16
107.................................................................3 7 15
108-109.............................................................2 7 15
110-111.............................................................2 7 14
112.................................................................2 6 14
113.................................................................1 6 13
114-115.............................................................1 5 13
116-117.............................................................1 5 12
118......................................................................5 12
119-121..................................................................4 11
122-123..................................................................4 10
124......................................................................3 10
125-128..................................................................3 9
129-130..................................................................2 9
131-133..................................................................2 8
134-135..................................................................2 7
136-139..................................................................1 7
140......................................................................1 6
141-142.......................................................................6
143-148.......................................................................5
149-154.......................................................................4
155-160.......................................................................3
161-169.......................................................................2
170-175.......................................................................1
176-180.......................................................................0
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Radian Guaranty Inc. RADIAN
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