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Freddie Mac keeps insurers at top level post review

Fri Jun 20, 2008 2:09pm EDT

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NEW YORK, June 20 (Reuters) - Freddie Mac (FRE.N), the second largest-provider of funding for U.S. home mortgages, on Friday said three mortgage insurers would keep top designations for doing business with the company after a review.

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Mortgage Guaranty Insurance Corp (MTG.N), PMI Mortgage Insurance Co (PMI.N) and Radian Guaranty, Inc (RDN.N) will continued to be treated as "type 1" insurers following its review of their plans to improve credit ratings, Freddie Mac said in an e-mailed statement.

McLean, Virginia-based Freddie Mac asked for remediation plans after downgrades at the insurers.

(Reporting by Al Yoon; Editing by Theodore d'Afflisio)

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