MGIC’s third-quarter loss exceeds analysts’ forecasts [Milwaukee Journal Sentinel]
|By Paul Gores, Milwaukee Journal Sentinel|
|McClatchy-Tribune Information Services|
MGIC will pay
For the quarter, MGIC posted a loss of
Analysts polled by Yahoo Finance had expected a loss of
The results are "disappointing,"
It was the ninth consecutive quarterly loss for the company, which has been hit hard by the housing slump and high unemployment. Mortgage insurers like MGIC pay lenders part of their costs when borrowers default on mortgage loans.
Revenue at the nation's biggest private mortgage insurer fell 9% to
Losses incurred, driven mainly by increases in claims, rose to
Among positive developments in the quarter: New insurance written totaled
MGIC shares fell
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