Mortgage insurers crash on Freddie Mac partnership with Arch Capital

|About: Freddie Mac (FMCC)|By:, SA News Editor

Wells Fargo analyst Sean Dargan says Freddie Mac(OTCQB:FMCC +0.9%) and Arch Capital (ACGL -2.5%) have partnered to launch a pilot program which may mean lower market share for other major private mortgage insurers.

Radian Group (RDN -9.3%), MGIC (MTG -8.8%), NMI Holdings (NMIH -10.4%), and Essent Group (ESNT -7.5%) are all tumbling on the news.

Subscribe for full text news in your inbox