What does the Fannie/Freddie situation mean for mortgage insurers?

I bought a LOT of Radian stock when it was way down (got lucky there), so I'm wondering how will the GSE government takeover affect those businesses? Will it help since more mortgages can be issued if the GSEs have more money, or does the government now insure them or something like that, making mortgage insurers useless? I'm sure Monday morning is going to be something else, but I don't know if I need to be abandoning ship or else looking for opportunity, and I don't completely understand the government takeover thing. Thanks!