SOURCE: Five Star Equities

Five Star Equities

August 13, 2012 08:20 ET

Mortgage Insurance Industry Looks to Rebound as Mortgage Delinquency Rate at a Three-Year Low

Five Star Equities Provides Stock Research on MGIC Investment and Radian Group

NEW YORK, NY--(Marketwire - Aug 13, 2012) - Ever since the housing bubble collapsed and foreclosures soared, mortgage insurers have struggled to recoup their losses, leaving their books filled with large unpaid home loans. Things may be turning around for the industry as the U.S. housing market has begun to show signs of a long awaited recovery and with mortgage delinquencies currently at a three-year low. Five Star Equities examines the outlook for companies in the Property & Casualty Insurance Industry and provides equity research on MGIC Investment Corp. (NYSE: MTG) and Radian Group Inc. (NYSE: RDN).

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Credit reporting agency TransUnion last week reported that mortgage delinquencies, holders behind payments by 60 days or more, have fallen to 5.49 percent in the second quarter, down from the 5.78 percent in the first quarter. The agency anticipates the delinquency rate to continue to fall this year, but not below 5 percent.

"The pace of improvement should pick up when we review third quarter results, helped by a few months of relatively good news on home prices, this year's resurgence in refinance activity related to HARP 2.0 and record low mortgage interest rates," says Tim Martin, group vice president of U.S. housing in TransUnion's financial services business unit.

Five Star Equities releases regular market updates on the Property & Casualty Insurance Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

MGIC, the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by $166.7 billion primary insurance in force covering 1.0 million mortgages as of June 30, 2012. MGIC serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.

Radian Group Inc. provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. The company recently reported that new mortgage insurance written grew to $8.3 billion during the quarter, compared to $6.5 billion in the first quarter of 2012 and $2.3 billion in the prior-year quarter.

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