Radian Guaranty is seeking waivers in 12 states of risk-to-capital requirements, even though it does have $600 million in capital at the parent company level available to downstream to the mortgage insurer, chief financial officer Bob Quint said during a presentation at the FBR Capital Markets Fall Investor Conference.

The strategy, he said, is to preserve liquidity at the holding company level. So far, three states —Illinois, Kentucky and Wisconsin — have approved the waiver, while one state rejected the request.

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