NEW YORK, NY -- (MARKET WIRE) -- 03/03/06 -- 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 February 28, 2006 it closed on a transaction backed by approximately $951,573,000 of residential mortgage collateral. JPMorgan, Deutsche Bank, Société Générale, and Merrill Lynch & Co. underwrote the approximately $937,292,000 of investment grade certificates. The publicly issued transaction C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2, represents C-BASS' largest public whole loan securitization to-date.

The Certificates are rated by Moody's Investors Service, Inc. ("Moody's"), Standard & Poor's ("S&P"), Fitch Ratings ("Fitch"), and Dominion Bond Rating Service ("DBRS"). The securitization consists of 12 classes of offered Certificates, Class AV, Class AF-1, Class AF-2, Class AF-3, and Class AF-4 rated Aaa/AAA/AAA/AAA; Class M-1 rated Aa1/AA+/AA+/AA(high); Class M-2 rated Aa2/AA+/AA+/AA; Class M-3 rated Aa3/AA/AA/AA(low); Class M-4 rated A1/AA-/AA-/AA(low); Class M-5 rated A2/A+/A+/A(high); Class M-6 rated A3/A/A/A; and Class M-7 rated Baa1/A-/A-/A(low).

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.

Contact:
Lisa Brzezinski
212.850.7724 phone
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