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MGIC Loses $187 Million

By Implode-Explode Heavy Industries

``MGIC Investment Corp., Milwaukee, posted a loss of $187 million for the fourth quarter, an improvement over the $280 million loss for the same period in 2009, but worse than the $52 million in the third quarter of 2010. Company executives had previously warned the fourth quarter would see a higher loss than the third, however these losses are even higher than what analysts had expected.''

Full post as published by Mortgage Lender Implode-o-Meter on January 20, 2011 (boomark / email).