MGIC (MTG): Mortgage Turnaround?

Filed in Bank Gold, earnings, lead, o, recession by on January 19, 2011 1 Comment

Filed under: Newsletters , Stocks to Buy , Housing , Recession “MGIC ( MTG ) is the leading U.S. private mortgage insurer; in fact, the company claims to have founded the mortgage insurance industry in 1957,” notes turnaround specialist George Putnam . The editor of The Turnaround Letter explains, “After many years of relatively steady earnings, MGIC was forced to sharply increase its reserves beginning in 2007 as more homeowners began defaulting on their mortgages. “As a result, the company posted large losses in each of the last three years, which reduced its capital to a precarious level. Almost all of the other mortgage insurers suffered similar fates, with several competitors being forced out of business. Continue reading MGIC (MTG): Mortgage Turnaround? MGIC (MTG): Mortgage Turnaround? originally appeared on BloggingStocks on Wed, 19 Jan 2011 10:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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  1. Since we appear to be in a MGIC (MTG): Mortgage Turnaround? | Gold Investment Stocks state of mind, The loan modification business should be able to produce SOME documentation of the work they have done. Since the loan modification documents contain personal financial details, you might see the specific new terms including interest rate and fixed term, but not the homeowner’s personal data including name, address etc.

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