Misfortunes Doomed Triad-Investor Negotiations; MI to Lay Off 100 Workers in Business Run-Off
June 26, 2008
A combination of factors, including Freddie Mac’s suspension of Triad Guaranty’s status as an approved mortgage insurer, led to the collapse of talks between the beleaguered MI company and investors to form a new monoline MI company. On June 19 Triad, the smallest of four MI providers registered with the Securities and Exchange Commission, announced termination of...