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MGIC's Overdues Rise after Storms.(MGIC Investment Corp)(Brief Article)
Milwaukee -- MGIC Investment Corp. reported a decline in credit losses last year, despite estimating that Hurricanes Katrina, Rita and Wilma added 5,300 delinquencies to the company's portfolio.
MGIC, which had $170 billion of insurance-in-force at the end of last year, said 4.52% of its insured loans were delinquent at year-end, up from 3.99% at the end of 2004. That excludes MGIC's bulk insurance portfolio. When the bulk portfolio is included, the delinquency rate rises to 6.58% at the end of last year, up from $6.05% a year earlier.
The company's ...
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Source: HighBeam Research, MGIC's Overdues Rise after Storms.(MGIC Investment Corp)(Brief...