- The improving housing market has MGIC Investment nearly moving back into the green, posting a loss of $1.14M (basically $0.00 per share) in Q4 vs. a loss of $386.7M, or $1.91 per share, a year ago.
- Revenue of $251.9M in Q4 is off from $371.4M a year ago. Net premiums written of $204.1M vs. $260.7M.
- Percentage of delinquent loans (excluding bulk loans) of 8.92% vs. 11.87% a year ago and 13.79% 2 years back. Losses of $196.1M vs. $688.6M a year ago (though the 2012 number was lifted by $367.5M due to GSE settlement and boost to reserves).
- CC at 10 ET
- Press release, Q4 results
- MTG +4.4% premarket
MGIC nears return to profitability
Jan 23 2014, 08:20 ET