Insurance
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Insured Mortgage Defaults Jump to Highest Level in More Than Five Years
Sep 28, 2007The Mortgage Insurance Companies of America (MICA) reported today that mortgage defaults among borrowers with mortgage insurance jumped 30 percent relative to year-ago levels, with 58,441 primary insurance defaults recorded during August. The reported cure rate — that is, the number of defaults that were able to reperform — rose 11 percent in August relative to July, MICA said, registering a still-abysmal 57.9 percent of primary insurance defaults.
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MGIC, Radian: C-BASS May Be Written Off
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Mortgage Insurers Downgraded
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Big Money Put on Countrywide To Crash — By Next Friday
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