SOURCE: Five Star Equities

Five Star Equities

September 10, 2012 08:20 ET

Radian Group and MGIC Investment Shares Surge as Mortgage Delinquencies Continue to Decline

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

NEW YORK, NY--(Marketwire - Sep 10, 2012) - The number of U.S. mortgage delinquencies, borrowers who are past due by 60 days or more, have been steadily declining in 2012. TransUnion recently reported that the mortgage delinquency rate has declined for two consecutive quarters and has dropped almost 9 percent during the first half of the year. Five Star Equities examines the outlook for companies in the Property & Casualty Insurance Industry and provides equity research on Radian Group Inc. (NYSE: RDN) and MGIC Investment Corp. (NYSE: MTG).

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The national mortgage delinquency rate fell to 5.49 percent in the second quarter of 2012. TransUnion reported that all but five states saw decreases between the first and second quarter.

"The economy has not grown at a robust rate, but it does continue to slowly improve and we believe the improvement in mortgage delinquencies will follow a similar pattern," said Tim Martin, group vice president of U.S. Housing in TransUnion's financial services business unit. "With steadying home prices, and mortgage interest rates remaining at extremely low levels, it appears that market conditions are set up to allow for further declines in the mortgage delinquency rate."

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Radian Group provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. Shares of the company soared over 22 percent last Thursday after the company reported their delinquency data for August.

MGIC, the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by $169.0 billion primary insurance in force covering 1.1 million mortgages as of March 31, 2012. At June 30, 2012, the percentage of loans that were delinquent, excluding bulk loans, was 12.51 percent, compared with 13.79 percent at December 31, 2011.

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