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## Radian Group Inc. Notes to Consolidated Financial Statements - (Continued) 

The following is a list of those assets and liabilities that are measured at fair value by hierarchy level as of December 31, 2011: 

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(1) Comprising broadly diversified domestic equity mutual funds included within Level I and various preferred and common stocks invested across numerous companies and industries included within Levels II and III. 

(2) Comprising short-term commercial paper within CPS trusts ( $150.0 million) and short-term CDs ($1.6 million ) included within Level II and lottery annuities ( $1.6 million) and TruPs held by consolidated VIEs ($5.2 million) included within Level III. 

(3) Does not include fixed-maturities held to maturity ( $2.6 million) and other invested assets ($61.0 million), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value. 

(4) Comprising manufactured housing loan collateral related to two consolidated financial guaranty VIEs. 

(5) Comprising consolidated debt related to NIMS VIEs ($9.4 million) and amounts related to financial guaranty VIEs ($218.8 million). 

