Mgic Inv Cp Stock Price, News & Analysis

MGIC Investment Corporation (NYSE: MTG) released its January 2021 Operational Summary, detailing mortgage insurance statistics. The report highlights a decrease in primary delinquent inventory, down to 56,315 loans, compared to 57,710 in December 2020. New delinquency notices also fell to 4,810, while cures totaled 6,094. Approximately 47% of new delinquency notices are in forbearance. The company anticipates continued impact on delinquency levels due to the COVID-19 pandemic, influenced by government measures and economic conditions.

Mortgage Guaranty Insurance Corporation (MGIC), a subsidiary of MGIC Investment Corporation (NYSE: MTG), has announced the promotions of Gary J. Johnson to Vice President – Data Science and Jennifer A. Westphal to Vice President – Chief Information Security Officer. Johnson, who has been with MGIC since 2006, has advanced through several roles in Risk and Finance, while Westphal has been with the company in various Information Security roles since 2012. Both promotions are expected to strengthen MGIC's data-driven capabilities and innovations.

The Board of Directors of MGIC Investment Corporation (NYSE:MTG) has declared a quarterly cash dividend of $0.06 per share, scheduled for payment on March 3, 2021. Shareholders of record as of February 17, 2021 will receive this dividend. This decision reflects the company’s commitment to returning value to shareholders. MGIC, through its principal subsidiary, provides private mortgage insurance to lenders, facilitating affordable homeownership.

MGIC Investment Corporation (MTG) will release its fourth quarter 2020 financial results after the market closes on February 23, 2021. A conference call is set for February 24, 2021, at 10:00 a.m. ET. The company provided December 2020 operating statistics, revealing a decrease in primary delinquent inventory from 61,521 in November to 59,236. The percentage of new delinquency notices in forbearance decreased to 46%, while the primary delinquency inventory in forbearance was 62%. Investors can access the information via the company's website.

MGIC Investment Corporation (NYSE: MTG) released its November 2020 Operational Summary for primary mortgage insurance. The report indicates a decline in primary delinquent inventory, ending at 59,236 loans from 61,521 in October. New delinquency notices were reported at 5,024 for November, down from 5,228 the previous month. Cures decreased to 7,212 from 8,020. The percentage of delinquent loans in forbearance has also dropped to 49%. The ongoing impact of COVID-19 continues to influence these metrics, highlighting the uncertain economic environment.

Mortgage Guaranty Insurance Corporation (MGIC) (NYSE: MTG) announced a successful integration with Lender Price, enhancing its risk-based MiQ pricing accessibility via Lender Price’s cloud-based product, pricing, and eligibility (PPE) engine. This collaboration aims to streamline the private mortgage insurance (PMI) quote process for loan officers, thereby improving efficiency and customer service. Both companies expressed enthusiasm about the partnership, highlighting its potential to offer competitive options to lenders.

On November 18, 2020, MGIC announced its integration with Mortgage Coach, allowing real-time mortgage insurance quotes to be provided within the Mortgage Coach platform. This partnership aims to enhance borrower experience by offering faster and more accurate pricing for mortgage insurance. According to MGIC, over 20% of its loans require mortgage insurance, underscoring the integration's significance. The integration is available to lenders using Mortgage Coach Enterprise Edition with an active MGIC policy.

MGIC Investment Corporation (NYSE: MTG) announced its third-quarter 2020 results, reporting a net income of $130.8 million ($0.38 per diluted share), down from $176.9 million ($0.49 per diluted share) in Q3 2019. Adjusted net operating income was $149.9 million ($0.43 per diluted share), compared to $173.6 million ($0.48) last year. New insurance written increased to $32.8 billion, while insurance in force grew by 9.5%. The loss ratio improved to 15.9% from 89.2% in Q2 2020. The company declared a $0.06 dividend per share.

MGIC Investment Corporation (MTG) announced the retirement of Lisa Pendergast, Vice President and Treasurer, effective November 2, 2020. She has been with the company since 1998, contributing significantly to its treasury operations. Nathan R. Abramowski, previously Assistant Treasurer, will succeed her. Abramowski has been with MGIC since 2014, advancing from Financial Reporting Manager. The company reported $238.9 billion in primary insurance in force as of September 30, 2020, covering approximately one million mortgages.