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C-BASS Completes $395 Million REMIC, C-BASS Series 2005-CB7

C-BASS, the established leader in servicing and securitizing credit-sensitive residential mortgages, and an affiliate of MGIC (NYSE: MTG) and Radian Group Inc. (NYSE: RDN), today announced that on November 9, 2005 it closed on a transaction backed by approximately $435,000,000 of residential mortgage collateral. JPMorgan and Barclays Capital underwrote the approximately $394,557,000 of investment grade certificates. The publicly issued transaction C-BASS Mortgage Loan Asset-Backed Certificates, Series 2005-CB7, represents C-BASS' seventh public whole loan securitization of 2005.

The Certificates are rated by Fitch Ratings ("Fitch"), Moody's Investors Service, Inc. ("Moody's"), Standard & Poor's ("S&P"), and Dominion Bond Rating Service ("DBRS"). The securitization consists of 10 classes of offered Certificates, Class AF-1, Class AF-2, Class AF-3 and Class AF-4 rated AAA/Aaa/AAA/AAA; Class M-1 rated AA+/Aa1/AA+/AA(high); Class M-2 rated AA+/Aa2/AA+/AA(high); Class M-3 rated AA+/Aa3/AA+/AA; Class M-4 rated AA/A1/AA+/AA; Class M-5 rated AA-/A2/AA/AA(low); and Class M-6 rated A+/A3/AA/A(high).

Servicing for the underlying collateral is performed by Litton Loan Servicing LP, a wholly owned subsidiary of C-BASS. The Servicer intends to make available certain loan level and certificate level information on this deal (such as delinquency and credit support data, projected and actual loss data, roll rates and trend analyses) through its proprietary investor interface and asset analysis tool RADAR Viewer(SM). The RADAR Viewer Internet website is located at www.radarviewer.com.

C-BASS is a New York-based company specializing in the acquisition, servicing and securitization of credit-sensitive residential mortgages. C-BASS combines advanced credit risk analysis, seasoned loss mitigation expertise, and proprietary default management technology to provide special servicing and subprime servicing for credit sensitive and non-performing mortgage loans. C-BASS is a limited liability company capitalized by MGIC Investment Corporation (NYSE: MTG), Radian Group Inc. (NYSE: RDN), and C-BASS management. MGIC Investment Corporation, based in Milwaukee, WI, is the parent of Mortgage Guaranty Insurance Corporation (MGIC), and Radian Group Inc., based in Philadelphia, PA, is the parent of Radian Guaranty Inc.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

Distributed by Market Wire