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发帖数: 14359 | 2 http://www.dailyfinance.com/2012/09/11/heckmann-and-mgic-invest
Both MGIC Investment and Genworth Financial (NYS: GNW) have risk-to-capital
ratios in excess of the statutory maximum 25-to-1 ratio. As I pointed out
the other day, Radian Group (NYS: RDN) might be currently below the
threshold, but it expects to exceed the limit later this year.
Like Radian, MGIC saw a drop in the number of delinquencies, down less than
2% from the month before, but its cures (when a loan returns to on-time
payment status) jumped 13%. That might sound hopeful, but 15% of its cures
come from loan modifications; it estimates that half of them will default
once again.
While the rule breaking suggests these large insurers will now survive, it
doesn't mean that they will thrive. I'm rating MGIC to underperform the
market but in the meantime, share your view in the comments box below on
whether MGIC Investment will find a firmer foundation on which to build. |
