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MGIC Returns to Profit as Claims Costs Drop

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MGIC Investment Corp., the largest mortgage insurer, posted its first profit in 12 quarters as claims costs dropped on a decline in delinquencies in home loans.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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