Mortgage Insurers Grapple With High Delinquency Rates
The Paragon Report Provides Equity Research on PMI Group & Radian Group
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 10/25/11 -- Mortgage Insurers continue to struggle as the aftermath of the recession and economic slowdown weighs on their recovery. Matthew Howlett, an analyst at Macquarie Group Ltd, argues that Mortgage Insurers probably won't "be able to handle a sustained increase in delinquencies" that would come with another recession. The Paragon Report examines investing opportunities in the Property & Casualty Insurance Industry and provides equity research on PMI Group, Inc. (NYSE: PMI) and Radian Group, Inc. (NYSE: RDN). Access to the full company reports can be found at:
Last month a report released by the Office of the Comptroller of the Currency revealed that the number of homeowners behind on their mortgages rose during the second quarter of 2011. Early-stage delinquencies, which count mortgages that are between 30 and 59 days delinquent, increased 0.4 percent in the second quarter, the report said. More serious delinquencies -- mortgages that are 60 or more days delinquent -- and delinquent mortgages to bankrupt borrowers also increased slightly in the second quarter after falling for the previous five quarters.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Property & Casualty Insurance industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
High delinquency rates have plagued Mortgage Insurers. PMI Group said on Saturday that the main subsidiary of the company has been seized by Arizona insurance regulators, and will begin paying only 50 percent of claims. 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.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2011 - 06:16 Uhr
Sprache: Deutsch
News-ID 1049423
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
NEW YORK, NY
Phone:
Kategorie:
Commercial & Investment Banking
Anmerkungen:
Diese Pressemitteilung wurde bisher 37 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Mortgage Insurers Grapple With High Delinquency Rates
"
steht unter der journalistisch-redaktionellen Verantwortung von
Paragon Financial Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
