Private MIs Continue to Pile Up Big Losses, Pull Back on Captive Reinsurance Programs
November 7, 2008
Private mortgage insurers reported heavy losses and rising default rates again in the third quarter, with little evidence that the industry most exposed to the housing swoon is beginning to find any solid footing. Two of the seven private MIs – United Guaranty and Triad – have not yet reported third-quarter earnings. But the remaining... [Includes one chart and one graph]