Not that it means anything, but I recently asked an employee of MGIC about the attitude of employees in the company and I was told the attitude is very upbeat.
Home values are going up. Cures recently have been a higher percentage than in the last few years.
Delinquincy rates seem to be declining. The big elephant in the room is the lack of capital.
There are two solutions to capital: (1) Add back the after tax benefit of the net operating loss. This would probably resolve the capital issue. At some point in time, the auditors will allow for this if the company is making a profit.
(2)Dilute the stock by issuing more shares. This would dilute the value of the stock for current shareholders. I hope that we do not have to do this.
Is it possible that MGIC is holding off on issueing its earnings report until the January delinquincies are released. Wouldn't it be amazing if the delinquincy trend was improving enough to add back the value of the net operating loss?