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MGIC Investment Corp. Message Board

  • mikejones698 mikejones698 Feb 27, 2013 7:07 PM Flag

    MTG revenues vs RDN revenues... why does everyone favor RDN?

    With all of this talk about RDN writing SO MUCH NIW, MTG is still clearly making quite a bit more money off of its mortgage insurance business.

    Net premiums earned last quarter for RDN was $179 million, and MTG regularly books quarter premiums earned in the $250 million range.

    How is this possible? Am I missing something?

    It is so obvious S. Ibrahim at RDN knows he's in trouble, so he goes after the quick cash grab insurance (single premium) and stops paying claims to get a net profit for a quarter, just so the stock price goes up, so he can raise the capital he needed a few quarters ago. It's really pretty shady.

    Am I the only one seeing this?

    -Mike

    Sentiment: Buy

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