Radian Group and Genworth Financial Look to Make Headway in Struggling Mortgage Insurance Industry
The Paragon Report Provides Equity Research on Radian Group & Genworth Financial
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 02/27/12 -- Mortgage Insurers continue to struggle to recoup their losses after the housing bubble burst and foreclosures soared, leaving them with large claims on unpaid home loans. Reuters reports that insurers have been attempting to meet capital adequacy benchmarks and have sought waivers to continue writing business in many states in the United States. The Paragon Report examines investing opportunities in the Property & Casualty Insurance Industry and provides equity research on Radian Group Inc. (NYSE: RDN) and Genworth Financial Inc. (NYSE: GNW). Access to the full company reports can be found at:
Data through January 2012, released by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices, showed that default rates on first mortgages declined for the first time in five months in January, helping to contribute to an overall decline in U.S. consumer-credit defaults. In January, overall credit defaults declined to 2.16% from 2.24% in December. The first-mortgage defaults rate dropped to 2.08% from 2.19% a month earlier. Since first-mortgage loans are the largest of consumer loans, their default rates typically drive the combined rate, David M. Blitzer, managing director and chairman of the Index Committee for S&P Indices explains. Defaults on second mortgages eased to 1.3% from 1.33% and bank credit cards were down at 4.57% from 4.6%.
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Last week Radian Inc. posted a narrower-than-expected quarterly loss on lower paid claims. However the mortgage insurer's risk-to-capital ratio may rise more than the permissible 25:1 after the first quarter if no additional capital is contributed, Chief Financial Officer Robert Quint said. If Radian Guaranty's risk-to-capital ratio were to exceed 25:1, Radian will infuse $50 million of additional capital into its unit Radian Mortgage Assurance Inc (RMAI), the company said.
Genworth Financial, Inc., a financial security company, provides insurance, wealth management, investment, and financial solutions in the United States and internationally.
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
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Datum: 27.02.2012 - 07:20 Uhr
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