Radian Group Inc. Friday reported a loss of $618 million for the fourth quarter, and $1.2 billion on the year, driven primarily by write-downs related to the firm's failed merger with MGIC Investment Corp. as well as credit and mark-to-market losses.

"2007 was a year of great change for Radian, and I am proud that our team was able to overcome the challenges of unwinding the merger with MGIC while maintaining a solid balance sheet," said S.A. Ibrahim, chief executive officer for Radian in the earnings release. "Our claims-paying resources in both business segments are strong and we stand to benefit from a stable and well-capitalized financial guaranty business."

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