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MGIC Investment Corp. Message Board

  • paidbasher38291 paidbasher38291 Mar 8, 2013 12:48 PM Flag

    feb numbers were great

    no question, but stock lingers, no surprise given the massive dilution, they essentially doubled the share count, great for keeping the company alive, but it puts a lid on their stock price for years.

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    • u have got to be kidding...up, up, up from here

    • Thanks Paid & Bernie ! enjoyed of reading your post here. I'm glad paid looking at the facts before talk. The Feb number were grate. on of the best monthly numbers we saw recently. NIW $1.9B just based of 28 business days instead of 30 or 31 days. Stock shows support @4.75 erea and I expected to be up next week. Good news and more upgrades for recent capital raise and Feb number are on it's ways next week.

      Good Luck

    • Paid we have an upgrade from S&P, don't you consider that a positive news.
      From: djtrade77 • 20 minutes ago
      --MGIC's delinquent loans inventory drops 3.4% in February
      -- S&P raises MGIC rating one notch, citing its recent capital raising plans
      --The ratings firm also notes MGIC would have approached break-even results in the fourth quarter, excluding certain charges
      (Updates with S&P upgrade, share movement)
      By Saabira Chaudhuri
      Private-mortgage insurer MGIC Investment Corp.'s (MTG) inventory of delinquent loans declined in February from the previous month.
      MGIC is the largest mortgage insurer for Freddie Mac (FMCC) and sister mortgage-finance company Fannie Mae (FNMA). Mortgage insurers cover potential lender losses on loans typically given to borrowers who can't come up with a 20% down payment for their home purchases.
      MGIC's primary delinquent inventory of loans fell 3.4% to 133,125 in February from January. Primary new insurance written fell 14% to $1.9 billion .
      Separately on Friday, Standard & Poor's Rating Services raised its rating on MGIC's insurance unit to B from B-minus, leaving it five steps deep into junk territory. The outlook is stable.
      S&P pointed to MGIC's recent capital raising plan to issue 135 million shares of common equity and $450 million of senior convertible notes due in 2020. It said if the 15% share issue and $50 million note issue overallotments are fully exercised, the combined offering will provide more than $1.2 billion in additional capital.
      "The extent of the capital raise mitigates, if not eliminates, our concerns in the near term regarding a regulatory take-over of the company," said Standard & Poor's credit analyst Ron Joas .
      In February, MGIC said its fourth-quarter loss widened as the private-mortgage insurer's results were dragged down by a one-time settlement charge.

 
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