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MGIC Investment Corporation, through its subsidiary, Mortgage Guaranty Insurance Corporation, provides private mortgage insurance to the home mortgage lending industry in the United States. The private mortgage insurance covers residential first mortgage loans and expands home ownership opportunities by enabling people to purchase homes. The private mortgage includes primary and pool mortgage insurances. Its primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure, and generally written on first mortgage loans secured by owner occupied single-family homes. Primary insurance is also written on first liens secured by non-owner occupied single-family homes, and on vacation or second homes. The Pool insurance is used as an additional credit enhancement for certain secondary market mortgage transactions, and covers the loss on a defaulted mortgage loan that exceeds the claim payment under the primary coverage. The company also provides various mortgage services for the mortgage finance industry, such as contract underwriting, portfolio retention, and secondary marketing of mortgage-related assets. In addition, it provides Internet portal that enables mortgage originators to access products and services of wholesalers, investors, and vendors necessary to make a home mortgage loan, as well as provides hosting, design, and marketing solutions for mortgage originators and real estate agents. The company serves originators of residential mortgage loans, such as mortgage bankers, savings institutions, commercial banks, mortgage brokers, credit unions, and various lenders. MGIC Investment was founded in 1984 and is headquartered in Milwaukee, Wisconsin.
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Update 07/12:
Analysts'
Recommendation: | Hold | | 30 Days Ago: | Hold |
| | Analysts' Target: | $14 | | Analysts' Targets | | Friedman, Billings, Ramsey & C | $12 | | Strong Buy | Thursday, February 14, 2008
| | Lehman Brothers | $15 | | Equalweight | Thursday, February 14, 2008
| | UBS Securities | $16 | | Strong Buy | Wednesday, January 23, 2008
| MGIC Investment Corporation, through its subsidiary, Mortgage Guaranty Insurance Corporation, provides private mortgage insurance to the home mortgage lending industry in the United States. The private mortgage insurance covers residential first mortgage loans and expands home ownership opportunities by enabling people to purchase homes. The private mortgage includes primary and pool mortgage insurances. Its primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure, and generally written on first mortgage loans secured by owner occupied single-family homes. Primary insurance is also written on first liens secured by non-owner occupied single-family homes, and on vacation or second homes. The Pool insurance is used as an additional credit enhancement for certain secondary market mortgage transactions, and covers the loss on a defaulted mortgage loan that exceeds the claim payment under the primary coverage. The company also provides various mortgage services for the mortgage finance industry, such as contract underwriting, portfolio retention, and secondary marketing of mortgage-related assets. In addition, it provides Internet portal that enables mortgage originators to access products and services of wholesalers, investors, and vendors necessary to make a home mortgage loan, as well as provides hosting, design, and marketing solutions for mortgage originators and real estate agents. The company serves originators of residential mortgage loans, such as mortgage bankers, savings institutions, commercial banks, mortgage brokers, credit unions, and various lenders. MGIC Investment was founded in 1984 and is headquartered in Milwaukee, Wisconsin.
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MTG:
This call was made
on 07/04/08
@ $7.06
| Rating: |
$7.06 (07/04/08)
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| Gain/Loss: |
+37.68%
in
505 days
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