Mortgage Servicing Fraud
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Financial Advisor to Assist in Efforts to Solve Liquidity Challenge

NEW YORK, NY--(MARKET WIRE)--Aug 3, 2007 -- C-BASS LLC, an affiliate of MGIC Investment Corporation (NYSE:MTG - News) and Radian Group Inc. (NYSE:RDN - News), today announced that it has retained The Blackstone Group as financial advisor to assist the company in the completion of the process of obtaining more permanent capital to help solve the liquidity challenge it currently faces.


As C-BASS announced on July 31, 2007, the company has been subject to an unprecedented amount of margin calls due to the current state of disruption in the credit markets. C-BASS has been working diligently with a number of investors to facilitate not only an immediate resolution of its current liquidity challenge, but a long-term partnership that will better position the company going forward.

About C-BASS

C-BASS is a New York-based company, long regarded as a leading issuer, servicer and investor in credit-sensitive residential mortgage assets. C-BASS is a limited liability company capitalized by MGIC Investment Corporation (NYSE:MTG - News), Radian Group Inc. (NYSE:RDN - News), and C-BASS management. MGIC Investment Corporation, based in Milwaukee, WI is the parent of Mortgage Guaranty Insurance Corporation (MGIC), and Radian Group Inc., based in Philadelphia, PA is the parent of Radian Guaranty Inc. For more information, please visit http://www.c-bass.com.

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I sorry I have to laugh at this article, BLACKSTONE will not be helping MGIC, they maybe charging them a huge amount, but helping them?  A very big NOT!  Blackstone would only break up the pie, and sell off portions of the business's!
 
Chapter 11 is on the horizon, even Blackstone Group knows this.   
 
 
 
 
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