MGIC Investment, Radian Group stocks falls after FHFA director’s PMI comments
MGIC Investment (MTG) and Radian Group (RDN) shares fell 4% and 3.5% respectively after FHFA director Bill Pulte announced Fannie Mae will adopt Freddie Mac's policy, allowing lenders to proactively notify borrowers about canceling private mortgage insurance (PMI). Pulte's comments highlighted the profitability of mortgage insurance companies and called for consumer savings. The policy change could reduce demand for PMI, impacting major providers like MTG and RDN.
