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COPYRIGHT 2008 SourceMedia, Inc.
NEW YORK -- A trio of reports from Lehman Brothers on the three largest publicly traded mortgage insurers all had a common theme: an expectation that those firms will need to build reserves.
In his report on MGIC Investment Corp., analyst Bruce W. Harting cites recent data from the Mortgage Insurance Cos. of America showing the cure/default ratio remaining in the 60% range. In addition, he cites comments from MGIC management at a recent meeting as well as data from other...
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