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Radian unit receives notification of SEC investigation


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Radian unit receives notification of SEC investigation

The U.S. Securities and Exchange Commission has launched an investigation against Green River Capital LLC over broker price opinions that the company allegedly provided on properties included in single family rental securitization transactions, according to a regulatory filing.

Green River Capital is cooperating with the SEC.

Green River Capital is wholly owned by Clayton Holdings LLC, a subsidiary of Radian Group Inc.

Separately, Radian Guaranty Inc. is facing litigation in the U.S. District Court for the Eastern District of Pennsylvania. On Dec. 22, 2016, Ocwen Loan Servicing LLC and Homeward Residential Inc. filed a complaint against Radian Guaranty alleging breach of contract and bad faith claims regarding certain claims handling practices on future insurance claims.

Radian Guaranty filed a motion to dismiss the complaint with the court March 3, according to the filing. The court issued orders March 17 directing Ocwen to file an amended complaint by June 5.

Radian Guaranty said it is unable to estimate a range of potential losses in the matter, citing the preliminary stages of the proceedings.