NEW YORK, July 16 (Reuters) - Mortgage insurer MGIC Investment Corp reported a wider quarterly loss and said it will stop writing new business as losses mount in the battered housing sector, sending its shares down 14 percent in premarket trade. There is absolutely no way to read this as anything but an outright disaster for the housing industry. Put a fork in the calls for a bottom to housing folks With the death of the "housing has bottomed" call will come an end to those who claim that the economy has turned. It may take an hour, a day, a week or a few months before these folks realize they were wrong, but there's no way around the conclusion given this set of facts.
http://market-ticker.org/archives/1225-FLASH-Mortage-Insurance-BOOM!.html
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