Fox-Pitt Kelton analyst Chris Buonafede has issued a daily research note on MGIC Investment Corp., Milwaukee, raising Fox-Pitt's earnings-per-share estimate for the mortgage insurer in 2004.The new estimate is $5.00 per share, up from $4.40 per share. The analyst said the action was based on the belief that growth in MGIC's reserves will slow in the first half of this year compared with that of the second half of 2003. In addition, delinquency trends were better in the fourth quarter than MGIC's management had originally forecast. The note also commented that delinquencies in the first half of a year tend to rise (or fall) at a slower pace than in the last six months of a year.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
5h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
10h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
10h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
11h ago -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
11h ago