Credit-default swaps tied to MGIC Investment Corp. led a decline among mortgage insurers after the company posted a narrower quarterly loss and said it will sell $1bn in stock and notes. Swaps tied to Milwaukee-based MGIC, the largest US mortgage insurer, fell 6.1 percentage points to 4.4% upfront, according to CMA DataVision. That means an investor buying protection on $10m of debt would pay an initial $440,000 as well as $500,000 a year. MGIC lost $150.1m, or $1.20 a share, in the first quarter, down from $184.6m, or $1.49 a share, in the year-earlier period, the company said today in a statement.

Most Popular Articles

Want to know if the housing market is healthy? Look at how often people move

There are numerous sources for graphs, charts, surveys, calculations and a seemingly infinite number of people and organizations with a stake in the housing market, so it’s difficult to cut through the noise and hear the melody. But in her debut column, HousingWire Columnist Mary Frances Coleman shows you how.

Feb 19, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please