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.
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I just finished reading the 4th quarter report for MGIC, it would appear to me on its face that MGIC has "Cooked" the books!  I'm betting that the SEC is going to be all over them.  Most interesting is CBASS!

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It appears MGIC is preparing itself for a possible hostile take over bid.  Its being now reported that they are exploring and developing "Poison Pill" and other methods to prevent both shareholders, investors, and others being hostile to the existing management from taking control of MGIC.   Could this be true?  The fall of MGIC just weeks or months away?
 
 
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TommyD

Sector Snap: Mortgage Insurers Decline

NEW YORK — Shares of mortgage insurers continued to plunge Thursday after a Commerce Department report offered little hope for a recovery in the housing market.

The Commerce Department reported Thursday builders began construction on 1.353 million homes and apartments last year, a 24.8 percent slide. That was the steepest decline since 1980.

Mortgage insurers have suffered in the past year along with the beleaguered housing market, which is in its third year of a slump.

Companies like Radian Group Inc. and MGIC Investment Corp. write insurance policies that promise to reimburse lenders when mortgage borrowers default. As home prices fall, claims from mortgage defaults are mounting and mortgage insurance stocks have plummeted.

Housing prices are a pillar of mortgage credit. When home prices fall, borrowers often lose both the incentive and the means to repay their mortgages.

In afternoon trading, Radian Group's shares tumbled $1.69, or 21.5 percent, to $6.18. The stock, which closed Wednesday down 85 percent in the last six months, reached as low as $6.10, a 13-year low.

Shares of MGIC Investment sank $1.96, or 12.11 percent, to $13.86. The stock touched as low as $11.63, the cheapest trade since 1992. MGIC's shares, which topped $70 in early 2007, have lost three-quarters of their value in the last year.

Shares of PMI Group Inc. lost $1.18, or 15.2 percent, to $6.59. Earlier in the day, the stock registered its cheapest trade in its 12-year history.

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IS THIS LIKE

 

CUTTING YOUR OWN THROAT???

 

 

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Had the heads of MGIC/RADIAN acted four years ago when this very problem was brought to them we would not be here at this point!
 
They are all now running for cover, its only a matter of real time before massive amounts of "investor" law suits begin against the management teams!   Cities and States are going to be following suit against them also. 
 
As they have been paid and compensated from the theft of homes for at least a dozen of years, they have formed "Trusts" where these "Ill gotten gains" have been moved to,  I will be one that will assist any lawyers and victims to point out who, and where these trusts are located and under who's names they appear!!!  
 
Hey Larry, how about playing a copy of that tape I left on your voice mail several years ago!!  You know, the one your lawyers asked me about in my deposition.  Go ahead and play it for everyone to hear!  Oh I will be asking for a copy of it in our discovery that will be coming shortly, I plan on putting on this site for everyone to hear!!  Soon you and your son JR, will be named personally in a number of suits! 
 
Maybe C. Wyatt, Benny Hibler, Janice , Martin, should start looking for other employment,

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JCD
Gary,

It truly makes my day, to hear you putting the screws to the Litton Scumbags and others!

Keep up the great work!

R,

JCD
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After approaching a near low for the year it appears Chase Bank, started buying MGIC Stock, to the point of over 1% of the outstanding stock!   This is the same bank that uses Litton Loan, and has an office and personal at Litton Loan.  I wonder how much more they are willing to buy?

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Get in now as a stockholder while they're in the basement. You can keep an eye on them from the inside and maybe ever recover a couple of stolen dollars from them in the process...

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getwhat
get what stock?
and get the stock from where?
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MGIC Pulling No Rabbits from Hats

  • Thursday February 12, 2009, 11:48 am EST

MGIC Investment Corp.'s (NYSE: MTG - News) core 4Q08 results missed our expectations by $1.06 per share. Falling home prices and the continuing recession have caused a significant increase in delinquencies and continue to materially affect the company's results.

Related Quotes

SymbolPriceChange
MTG3.45+0.27
Chart for M G I C INVEST CP
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Further, MTG risk-to-capital ratio has increased to 16:1 for the quarter. We expect the ratio to continue its upward trend during 2009. If MGIC does not succeed in raising new capital, it may also fall below the minimum regulatory capital requirements, rendering it unable to write any new business.

Management's forecast of generating no profitability for 2009 leaves little room for us to change our rating from a Sell over the near term.

Read the full analyst report on MTG

Zacks Investment Research

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