MGIC Loses $97.9 Million in Q2; Early Trouble in 2008 Vintage?
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2008-07-18
"It can be a little too depressing to continually trudge out bad news. At least, that seemed to be the lesson of a second quarter earnings report released Thursday by MGIC Investment Corp. (MTG: 5.89 +3.33%), which said that it lost $97.9 million during the quarter as foreclosures continued to soar; the company, however, offered investors optimism over its long-term prospects as tightened underwriting guidelines and increased premiums mean fewer bad loans and more money per policy on the books in the future."
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