MGIC Announces Run-Off Plan, Re-Entry Through Reanimated Subsidiary; Analysts Skeptical with Move
July 23, 2009
While Mortgage Guaranty Insurance Corp.’s decision to go into runoff and reactivate a wholly owned subsidiary to write new mortgage guaranty insurance is positive news to Wall Street analysts, credit concerns and rising unemployment continue to create uncertainty for the beleaguered Milwaukee-based private mortgage insurer. This initial reaction from analysts puts a damper on MGIC’s...