Mortgage Insurer MGIC Investment Corp. (MTG) reported its second straight quarterly profit, as the housing recovery improved default statistics. Reuters has more:
The percentage of MGIC's loans that were delinquent, excluding bulk loans, fell to 9.69 percent at Sept. 30 from 12.34 percent a year earlier.
MGIC's profit was $12.1 million, or 4 cents per share, for the third quarter ended Sept. 30, compared with a loss of $246.9 million, or $1.22 per share, a year earlier.
