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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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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool’s disclosure policy assures you no Wookiees were harmed in the making of this article.