Mortgage Insurers Pressed to Examine Capital Position as Losses Mount
August 14, 2008
All four free-standing MI companies reported huge losses in 2008 and have been forced to examine options for raising capital and maintaining their standing with Fannie Mae and Freddie Mac. The PMI Group acknowledged that it needed to raise “significant additional capital” earlier this year, and Mortgage Guaranty Insurance Corp. sold common stock and debentures to increase capital in...