We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MGIC Investment (MTG) Streamlines Services with PreApp 1003
Read MoreHide Full Article
MGIC Investment Corp. (MTG - Free Report) recently announced that its services will now be available through cloud-based mortgage pre-qualification system, PreApp 1003. With the help of PreApp 1003, the company will be able to provide correct and real-time mortgage loan rates to its borrowers.
This automation will help the company enhance its point-of-sale experience, boosting its portfolio. JP Hussey, Producing Branch Manager at GMH Mortgage said, “data has also shown that 35% of all applications this year will be from millennials.”
The mortgage insurer has maintained its position as one of the largest private mortgage insurers for more than 10 years. We expect that strategic endeavors like the one mentioned above will help the company grow its market share. The company expects to increase its market share to 19–20% from the 18% it currently holds.
MGIC Investment was severely affected by the 2008 financial crisis. However, the company is steadily recovering on the back of declining delinquencies and improving cure rates on claims from its legacy business. The prospects of the company also look bright in terms of growing book of high credit-quality business written since 2009.
MGIC Investment has been witnessing improvement in new business written owing to larger origination volume as well as an increase in the private mortgage insurance industry’s market share. However, the company expects to write 5–10% less new business in 2017 owing to the FHA premium cut. Nonetheless, the new business written as well as an expected increase in persistency is anticipated to result in moderate growth in insurance in force in 2017.
Shares of this Zacks Rank #2 (Buy) multiline line insurer gained 38.38% in a year’s time, outperforming the Zacks categorized Multiline Insurance industry’s increase of 24.51%. We expect improving housing market and declining delinquency to boost the company’s earnings in the coming quarters and help the shares retain momentum.
Other Stocks to Consider
Other well-ranked stocks from the insurance industry are American Financial Group, Inc. (AFG - Free Report) , The Progressive Corporation (PGR - Free Report) and Radian Group Inc. (RDN - Free Report) .
American Financial Group engages primarily in P&C insurance with focus on specialized commercial products for businesses. Shares of the company gained 40.72% in a year’s time. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Progressive offers personal and commercial P&C insurance, and other specialty P&C insurance and related services, primarily in the U.S. Shares of the company gained 12.88% in a year’s time. The stock sports a Zacks Rank #1.
Radian Group supports homebuyers, mortgage lenders, loan servicers and investors with a suite of private mortgage insurance and related risk-management products and services. Shares of the company gained 50.30% in a year’s time. The stock carries a Zacks Rank #2 (Buy)
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
MGIC Investment (MTG) Streamlines Services with PreApp 1003
MGIC Investment Corp. (MTG - Free Report) recently announced that its services will now be available through cloud-based mortgage pre-qualification system, PreApp 1003. With the help of PreApp 1003, the company will be able to provide correct and real-time mortgage loan rates to its borrowers.
This automation will help the company enhance its point-of-sale experience, boosting its portfolio. JP Hussey, Producing Branch Manager at GMH Mortgage said, “data has also shown that 35% of all applications this year will be from millennials.”
The mortgage insurer has maintained its position as one of the largest private mortgage insurers for more than 10 years. We expect that strategic endeavors like the one mentioned above will help the company grow its market share. The company expects to increase its market share to 19–20% from the 18% it currently holds.
MGIC Investment was severely affected by the 2008 financial crisis. However, the company is steadily recovering on the back of declining delinquencies and improving cure rates on claims from its legacy business. The prospects of the company also look bright in terms of growing book of high credit-quality business written since 2009.
MGIC Investment has been witnessing improvement in new business written owing to larger origination volume as well as an increase in the private mortgage insurance industry’s market share. However, the company expects to write 5–10% less new business in 2017 owing to the FHA premium cut. Nonetheless, the new business written as well as an expected increase in persistency is anticipated to result in moderate growth in insurance in force in 2017.
Shares of this Zacks Rank #2 (Buy) multiline line insurer gained 38.38% in a year’s time, outperforming the Zacks categorized Multiline Insurance industry’s increase of 24.51%. We expect improving housing market and declining delinquency to boost the company’s earnings in the coming quarters and help the shares retain momentum.
Other Stocks to Consider
Other well-ranked stocks from the insurance industry are American Financial Group, Inc. (AFG - Free Report) , The Progressive Corporation (PGR - Free Report) and Radian Group Inc. (RDN - Free Report) .
American Financial Group engages primarily in P&C insurance with focus on specialized commercial products for businesses. Shares of the company gained 40.72% in a year’s time. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Progressive offers personal and commercial P&C insurance, and other specialty P&C insurance and related services, primarily in the U.S. Shares of the company gained 12.88% in a year’s time. The stock sports a Zacks Rank #1.
Radian Group supports homebuyers, mortgage lenders, loan servicers and investors with a suite of private mortgage insurance and related risk-management products and services. Shares of the company gained 50.30% in a year’s time. The stock carries a Zacks Rank #2 (Buy)
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>