Wednesday, April 7, 2010 as of 11:14 AM ET
Mortgage Guaranty Insurance Corporation (a subsidiary of MGIC Investment Corporation) is a provider of private mortgage insurance in the United States.
Read More at Wikipedia ›The main subsidiary of mortgage insurer PMI Group Inc <PMI.
N> has been seized by Arizona insurance regulators, and will begin paying only 50 percent of claims starting on Monday, PMI Group said on Saturday.The remaining amount of each claim will be deferred, the company said on its website.Under a court order obtained by Arizona regulators, "the Arizona Department of Insurance now has full possession, management and control of PMI," the company said in a brief statement.The seizure of Arizona-based PMI Mortgage Insurance Co comes two months after two PMI units were ordered to stop writing new business due to their failure to meet capital requirements.PMI, like other U.S. mortgage insurers, has suffered throughout the housing downturn and has extremely high risk-to-capital ratios, causing many to question its survival.PMI stock, which had traded at nearly $50 a share before the housing meltdown in 2007, closed at 31 cents a share on Friday.PMI rivals include MGIC Investment Corp <MTG.N>...--Reserve for future claims rise--CEO says second quarter should be peak for claims payments--Shares of MGIC, other mortgage insurers fall on worriesNEW YORK -(Dow J...
-- New York appeals court had dismissed suit in February-- MBIA had been appealing the dismissal-- Shares of bond insurers rallyingNEW YORK -( Dow Jones )- MBIA Inc....
SAN FRANCISCO -- Mortgage insurers dropped Wednesday after MGIC Investment Corp. reported quarterly results. MGIC reported a net loss for the quarter ended Dec. 31 o...
Democrats in Congress got their way when they pushed through legislation that would expand the powers of the Federal Housing Administration (FHA), the government age...
July 08, 2008 8:28 AM The Cracks in Congress's Housing Rescueby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No votes yetComments »Democrats in Cong...
July 8, 2008 08:28 AM UTC by Elizabeth MacDonaldThe Cracks in Congress's Housing RescueDemocrats in Congress got their way when they pushed through legislation that ...
Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.
This material may not be published, broadcast, rewritten, or redistributed. ©2012 FOX News Network, LLC. All rights reserved.
