1 According the state of illinois deparment of insurance hearing no 12/HR/0902 page 9 point 19 c
Triad believes that sometime in 2013 2013 the level of losses will decline to a point where it will be profitable on a GAAP basis. You can find this document on the internet state Illinois department of insurance
2 Defaults and forcloser decline sharply and house price go up
3 We can estimate the total settled claims for 2012 to about $405 milj. When we have in 2013 a reduction of 60%, the amount of claims will go below the expected revenues for 2013 and the company will start to make some profit.
4 The revenues are very persistent
5 It is possible that the taking over by the department of Illinois is not bad at all. Restructuring can be done outside the spotlights
6 You can download the model I made from the website
Currently a vacuum cleaner is picking up the stock available for sale, price no problem
a-House price is going up fast as result the current inventory of defaults will not proceed to foreclosures and the claims will go down very fast 60%
b-Revenues are stable and will exceed the amount of claims very soon
c-TGIC will start to make profit
d-The value of the portfolio will exceed the reserve
Countrywide, Triad Reach Deal In $111M Insurance Suit
??????This was otober 2012 and we have no news about it.???????
considering the take over by the regulatory authorities it is very suprizing we have no news about the outcome!
Law360, Los Angeles (August 21, 2012, 6:52 PM ET) -- Countrywide Home Loans Inc. has reached a settlement in its $111 million lawsuit accusing Triad Guaranty Insurance Corp. of wrongfully rescinding insurance coverage on thousands of home loans, Triad's attorney told a California judge Tuesday, saying the deal is awaiting government approval.
"The principals from my client, Triad Insurance, met in Illinois with the new head of the Illinois Department of Insurance and briefed him," Triad's attorney Jeffrey K. Riffer of Elkins Kalt Weintraub Reuben Gartside LLP told Los Angeles Superior Court Judge Elihu M. Berle