Thursday, August 5, 2010

Private Mortgage Insurance Company Stocks Decline.

Bloomberg story HERE. Says stock of second largest PMI, Radian, declined by 20% because of higher than expected losses.

Table from story HERE shows industry wide totals by month for last year. Looks to me like May 2010 new business for private mortgage insurance industry of $4.8 billion was 42% less than $6.9 billion May 2009 volume. 

In reading through company and investor comments appears that PMI's are anticipating that changes in FHA premium structure will help increase their market share. 

Originally created and posted on the Oregon Housing Blog.

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