Florida Civil Suit Can Go Ahead in Mortgage Fraud Case Despite Criminal Probe ( ) - 2004-01-15
A civil lawsuit accusing a dozen people and businesses of engaging in mortgage fraud in East Manatee and Sarasota County will go ahead despite a criminal investigation into the allegations, a federal judge ruled Tuesday.

U.S. District Judge Elizabeth A. Kovachevich in Tampa rejected two defendants' arguments that allowing the suit to proceed while the U.S. Attorney's Office investigates the suit's allegations would violate their constitutional rights against self-incrimination.
Read the full story at Highmark Funds

Mortgage insurance player will take a $96M charge - 2004-01-15
Radian Group Inc. of Philadelphia said it will absorb a $96 million charge during the fourth quarter to pay for $111 million in claims forecasted from a housing deal gone bad.

Radian, which sells mortgage insurance and financial guaranty products, said the charge will cut fourth-quarter earnings by $62 million, or 66 cents per share. Before the announcement, the company was expected to make $1.14 per share during the fourth quarter.
Read the full story at Philadelphia Business Journal