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What: Shares of mortgage insurer MGIC Investment
So What: Thanks the wave of mortgage defaults washing over the U.S., mortgage insurers such as MGIC have been chalking up huge losses. After reporting a surprise profit last quarter, the company was back in the red this quarter, but its $0.26 per-share loss was not only much better than the $4.17 drubbing a year ago, but also better than the $0.67 loss that analysts expected.
Now What: Shares of the mortgage insurers have been bouncing all over the place lately, most notably thanks to the foreclosure debacle now plaguing banks like Bank of America
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