Welcome to our dedicated page for Mgic Inv Cp news (Ticker: MTG), a resource for investors and traders seeking the latest updates and insights on Mgic Inv Cp stock.
MGIC Investment Corp. (NYSE: MTG) is a finance and insurance company focused on private mortgage insurance and mortgage credit risk management solutions through its principal subsidiary, Mortgage Guaranty Insurance Corporation (MGIC). This news page aggregates company announcements, earnings updates and other disclosures related to MGIC and its role in supporting low-down-payment mortgages for lenders throughout the United States.
Readers can find earnings releases and related conference call announcements, where MGIC Investment Corp. discusses quarterly financial results, net premiums, net investment income, insurance in force, capital metrics and non-GAAP measures such as adjusted net operating income. These items provide insight into the performance of the mortgage insurance portfolio and the company’s approach to risk and capital management.
The news feed also includes corporate actions and governance updates, such as board appointments, director changes and information about cash dividends declared on the company’s common stock. MGIC Investment Corp. has reported share repurchases and dividend decisions, giving investors additional context on capital allocation.
Sector-specific developments appear as well, including announcements about ratings actions from agencies such as Moody’s and updates on MGIC’s capabilities within mortgage technology platforms. These items highlight how the company positions its private mortgage insurance offerings and interacts with lenders and partners in the mortgage ecosystem.
For investors, analysts and market participants following MTG stock, this page offers a centralized view of company news that is relevant to mortgage insurance, capital strength, shareholder returns and governance. Users can review past announcements to understand trends in MGIC Investment Corp.’s operations and financial reporting and return regularly to see new updates as they are released.
MGIC Investment Corporation (NYSE: MTG) will release its Q1 2021 financial results after market close on May 5, 2021. A conference call is set for May 6, 2021 at 10:00 a.m. ET. For March 2021, MGIC reported a starting delinquent inventory of 55,103 loans and new delinquency notices of 3,871. Cures amounted to 6,088 loans. As of March, 42% of new delinquency notices were in forbearance, while 61% of primary delinquent inventory was also in forbearance, indicating ongoing effects from the COVID-19 pandemic.
On March 5, 2021, MGIC Investment Corporation (NYSE: MTG) released its operational summary for February 2021, detailing mortgage insurance activities. The report indicates a decline in the primary delinquent inventory from January's 56,315 to 55,103 loans. New delinquency notices decreased to 4,330, while cures fell to 5,446. Notably, 62% of the primary delinquency inventory remains in forbearance, reflecting ongoing impacts from the COVID-19 pandemic. The company continues to monitor the economic landscape affecting delinquencies.
MGIC Investment Corporation (MTG) reported its fourth-quarter 2020 financial results, showing a net income of $151.4 million ($0.44 per diluted share), a decline from $177.1 million in Q4 2019. For the full year, net income was $446.1 million ($1.29 per share), down from $673.8 million in 2019. New insurance written in 2020 reached $112.1 billion, with a 10% increase in insurance in force y-o-y. However, primary delinquency inventory rose significantly from the previous year to 57,710 loans. The loss ratio increased to 17.5% in Q4 2020, while total revenues fell to $302.3 million.
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.