Investors Continue to Warm Up to Private Mortgage Insurers

The private mortgage insurers, Radian Group and MGIC Investment Corp., finished Monday as the biggest gainers among Mortgage Industry Equity Composite stocks.

The pair, for the most part, have been the best performers among MIEC stocks, as they both have been successful in raising new capital. Furthermore, Standard Poor’s upgraded MGIC, noting its fears of a regulatory seizure have been mitigated.

Radian closed Monday 5.88% higher than on Friday, while MGIC was up 4.48%. Third was KB Home, up 2.53%. On a day where the Dow Jones Industrial Average set yet another record high, 10 of the 17 MIEC stocks finished in the green.

Among the stocks which lost value were Ellie Mae, down 2.12%; PHH, down 2.05%; and OceanFirst Financial, down 1.82%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Investors-Warm-Up-Private-Mortgage-Insurers-1035036-1.html

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