Moody’s Changes Outlook on U.S. Mortgage Insurers to ‘Negative’
Moody’s Investors Service changed its outlook on U.S. mortgage insurers to “negative” from “developing” as homeowner defaults drain capital and property values remain little changed.
“The outlook change reflects mortgage insurers’ continued weak performance, including their stressed capital positions and continued material uncertainty about the ultimate magnitude of losses related to the financial crisis,” Stanislas Rouyer, an associate managing director for the ratings firm, said in a statement today. Moody’s didn’t name specific companies.
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