MGIC stumbles after June stats


Primary new insurance written of $3.2B in June compares to $2.8M in May and $2.8B a year ago. June 30 ending delinquent inventory of 85,416 loans slips from 86,415 a month earlier. One year ago, it was 117,105.

The quick read says MGIC saw a boost in new insurance written from both a month previous and a year ago - a good thing given the slowdown in the housing market. Nevertheless, shares are sharply lower after-hours, and it could be the minor reduction in delinquent inventory which previously had been rolling off far faster.

MTG -3.8% AH

Comments (2)
  • Rufus the Doofus
    , contributor
    Comments (72) | Send Message
     
    Nope it's the PMIER. Haven't read it yet. Operating stats wouldn't cause this action especially these decent ones.
    10 Jul 2014, 05:25 PM Reply Like
  • Rufus the Doofus
    , contributor
    Comments (72) | Send Message
     
    Mtg said they would not comply with new PMIERs by end of transition period 1/1/17. Rdn said they will comply, but requirement still too restrictive.
    10 Jul 2014, 06:35 PM Reply Like
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