SOURCE: The Bedford Report

The Bedford Report

September 15, 2011 08:16 ET

Radian Group and Genworth Financial Continue to Raise New Capital

The Bedford Report Provides Equity Research on Radian Group & Genworth Financial

NEW YORK, NY--(Marketwire - Sep 15, 2011) - With the Financial Crisis showing no signs of slowing, Mortgage Insurers continue to struggle. The amount of underwater mortgages and loan delinquencies remain high, and despite low interest rates for home loans, many people are still steering clear of purchasing a new home until the economic outlook is clearer. The Bedford Report examines the outlook for companies in the Property & Casualty Insurance Industry and provides equity research on Radian Group, Inc. (NYSE: RDN) and Genworth Financial, Inc. (NYSE: GNW). Access to the full company reports can be found at:

According to the latest stats from the Mortgage Insurance Companies of America (MICA), private mortgage insurers wrote $4.9 billion in new business in July even as some of the industry's players struggled with falling stock prices and uncertainty about future liquidity levels. Defaults outpaced loan cures in July with MICA reporting that insurers under its umbrella had 48,758 loan defaults insured by the industry and 35,905 cures.

Despite headwinds, MICA remains positive. MICA says that since the housing market entered into the current crisis, the private MI industry has raised over $8 billion in new private capital, and "which is a testament of investor confidence in the industry's ongoing role in the marketplace."

The Bedford Report releases market research 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 analyst reports and industry newsletters.

Both Radian Group and Genworth Financial are members of MICA. On Monday Radian announced that its Primary Delinquent Inventory was done modestly in the Month of August. Radian provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty.

Genworth said this summer that its US Mortgage Insurance segment's loss widened in the second quarter to $253 million from a loss of $40 million in the prior-year quarter. The company said that continued aging of delinquent loans adversely affected the results. On the upside, operating income skyrocketed more than 30 percent year over year to $149 million in the quarter in the company's Retirement and Protection segment.

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