Washington Mutual; Wachovia; PMI; Radian; MGIC
UBS AG analyst Eric Wasserstrom said the Seattle- based lender is underestimating losses on home loans.
WaMu will lose about $21.7 billion from mortgages through 2011, more than the $12 billion to $19 billion the company forecasted, Wasserstrom wrote in a report today.
WaMu lost 14% on the news. Meanwhile Wachovia plunged 10%; and mortgage insurers PMI -14%; Radian -18%; MGIC -8%
WaMu will lose about $21.7 billion from mortgages through 2011, more than the $12 billion to $19 billion the company forecasted, Wasserstrom wrote in a report today.
WaMu lost 14% on the news. Meanwhile Wachovia plunged 10%; and mortgage insurers PMI -14%; Radian -18%; MGIC -8%
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