Mortgage Insurance Companies

In My Humble Opinion
1

With foreclosures sky-high and the housing market plummeting I was wondering why the news has focused everything on the lending banks but I haven’t heard much anything on mortgage insurance companies (PMI).
They provided insurance to banks (paid for by the borrower) when people had less than 20% of a down payment. They must have taken a bloodbath.

Looks about right.

MGIC- Stock 3 years ago at $70/share, today at $2
PMI group- From $49 to 78cents
Radian Group- From $61 to $1.78
Triad Guaranty- From $51 to 32cents

Do any of them have any hope of survival or are are they completely dead?
If dead, why aren’t they completely dead yet?
Any of them worth buying if they aren’t going away?

2

There has been plenty of news and commentary about the lenders mortgage insurers in the business/insurance newspapers. PMI has been taking a battering in the US, as you’d expect. PMI’s Australian sub has had a jump in claims too, but is still well capitalised.