FHFA Reshapes Mortgage Insurance Sector -- Business to Grow
The Paragon Report Provides Equity Research on MGIC Investment Corp. and Radian Group
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/28/11 -- The Paragon Report examines investing opportunities in the Property & Casualty Insurance Industry and provides equity research on MGIC Investment Corporation (NYSE: MTG) and Radian Group, Inc. (NYSE: RDN). Access to the full company reports can be found at:
Earlier this month Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco explained a variety of ways the conservatorship of the Government Sponsored Enterprises (GSEs) would be changing. Among them is a new way to reduce their long-term risk exposure by looking to share Fannie and Freddie's risk with the private market via mortgage insurance in some of those ways.
Such action would be a sure-fire catalyst for the private mortgage insurance sector. The Mortgage Insurance Companies of America (MICA)says that it "welcomes the opportunity to play a vital role in housing finance for a return to prudently underwritten low down payment mortgage loans to meet the needs of moderate to low income families and first time homebuyers." MICA went on to explain in a statement that the "private mortgage insurers provide deeper coverage to protect the U.S. taxpayer."
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Property & Casualty Insurance Industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
According to the latest stats from MICA, private mortgage insurers wrote $4.9 billion in new business in July even as some of the industry's players struggled with falling stock prices and uncertainty about future liquidity levels. Defaults outpaced loan cures in July with MICA reporting that insurers under its umbrella had 48,758 loan defaults insured by the industry and 35,905 cures.
Despite headwinds, MICA remains positive. MICA says that since the housing market entered into the current crisis, the private MI industry has raised over $8 billion in new private capital, "which is a testament of investor confidence in the industry's ongoing role in the marketplace."
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Datum: 28.09.2011 - 12:16 Uhr
Sprache: Deutsch
News-ID 70495
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