Mortgage insurers settle with U.S. regulator over alleged kickbacks

WASHINGTON, April 4 Thu Apr 4, 2013 12:25pm EDT

WASHINGTON, April 4 (Reuters) - Four mortgage insurers settled claims from the U.S. consumer watchdog that they paid kickbacks to mortgage lenders in exchange for business.

Genworth Financial unit Mortgage Insurance Corp, American International Group Inc's United Guaranty Corp, Radian Group Inc's Radian Guaranty Inc and MGIC Investment Corp's Mortgage Guaranty Insurance Corp agreed to pay $15 million to resolve the allegations, the Consumer Financial Protection Bureau said on Thursday.

The insurers neither admitted nor denied the regulator's findings, according to the orders.

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