Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
MGIC,Parent company to CBASS and LITTON LOAN is falling futher into the ABYSS of the Stock Market.
With no relief for at least two years now, MGIC stock has fallen to a year low, and for the past week shown signs of falling even lower.  With nearly $1.6 Billion in reserves, MGIC is nearly bankrupt, its future earnings appear to now have been pledged to paying for past and future claims.  It is apparent that the rating firms are now getting very nervous about MGIC. But, based on the past performance of the rating firms they appear to be always too late with warnings.
MGIC as of the time of this writing is trading near $18 a share, several months ago I predicted MGIC near $20 a share at the end of September.  It now appears to me that MGIC is entering its "End Game" If it is not turned around by the end of the 4th quarter, its stock very well could be near "Bankruptcy" pricing.  A hostile take over is very possible.  It is apparent that the Board of Directors of MGIC were concerned enough about this to hire BLACKSTONE GROUP. 
The recent sales of SHERMAN CAPITAL, and now LITTON LOAN tell's volumes of the impending "Cash Crisis" MGIC is going into.
Quote 0 0
No sooner than I posted this thread, MGIC announced a 90% decline its dividend.  From .25 a share last quarter to 2.5 cents a share for the third quarter. 
Quote 0 0
Nye Lavalle
LOL last I looked it was 16.28 share
Quote 0 0
Friday MGIC stock went up!  MGIC CEO Curt Culver bought 50,000 shares.
Was it statement or attempt to curb the slide?
Quote 0 0
Another 12,000 plus shares were bought this last Friday by another officer of MGIC, the slide of value of MGIC continued today, down to low 19 a share.
I wonder when the rating companies are going to hit, and the IRS?  NO CHANGES AT MGIC YET! Stock is still falling! CBASS may have to file Chapter 11 very soon!
Quote 0 0
Write a reply...