| American International Group Inc. (AIG) is holding out as rival mortgage insurers accept policy changes that support the U.S. government push to stoke refinancing among borrowers with little or no home equity.
The bailed-out insurer's United Guaranty unit is telling lenders it's unwilling to offer the same protections on defective loans that competitors are granting to aid the Home Affordable Refinance Program, said four people with knowledge of the discussions. MGIC Investment Corp. (MTG) and Radian Group Inc. (RDN) have said they will forfeit some rights to revoke coverage under a plan that gets borrowers into less expensive loans... The bailed-out are still biting the helping hands that saved their asses. |
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At www.bloomberg.com
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