MGIC Investment Corp.’s (MTG) third-quarter loss of $4.44 per share was wider than the Zacks Consensus Estimate of a loss of $1.64 per share. Last year, the company had reported a loss of $1.06 per share. Increasing delinquent inventory and consequently higher incurred losses drained the results.   The company’s loss stood at $971 million from $788.3 million reported for the same period last year, primarily due to an increase in delinquencies. Net underwriting and other expenses were $59.1 million as compared to $62.4 million reported for the same period last year.   Total revenues were $413.3 million, compared with $461.6 million in the third quarter last year. Net premiums written were $278.3 million, compared with $365.0 million for the same period last year. New insurance written was $4.6 billion, compared to $9.7 billion in the third quarter of 2008. Investment income was $75.5 million, down 3.9% year ...

Before the opening bell today, MGIC Investment Corporation (MTG) announced its second quarter results. Core earnings shrank to -$2.74 per share from -$0.81 in the prior year period, abysmally missing our expectations of ($0.65) per share. Total revenue increased 7.1% year over year to $454.5 million. Net premiums written decreased 11.14% year over year to $330.4 million. New Insurance written declined considerably by 58% year over year to $5.9 billion. Persistency (% of premium remaining in force from the prior year) improved to 85.1%, compared with 79.7% in the prior-year period. The percent of delinquent loans doubled to 12.04% as compared with 6.02% in the prior-year period. MTG's primary insurance in-force decreased to $220.1 billion, compared to $226.4 billion in the prior-year period. Net paid claims increased 22.5% year over year to $380 million. Risk-to-capital ratio reported during the quarter was 14.7, compared to 16.1:1 ...