MGIC Loses $97.9 Million in Q2; Early Trouble in 2008 Vintage?

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At least, that seemed to be the lesson of a second quarter earnings report released Thursday by MGIC Investment Corp., which said that it lost $97.9 million during the quarter as foreclosures.

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Losses incurred in the quarter were $688 million, down slightly from last quarter and up from $235 million a year ago; claims paid in the quarter was $385 million up slightly from $371 million.

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H.R. 3221 Housing and Economic Recovery Act of 2008 MGIC Loses $97.9 Million in Q2; Early Trouble in 2008 vintage? mortgage applications fall again, worrying housing economists They could fall even lower this year if the Fed launches another round of bond purchases, as some economists expect.

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