PMI Sees Losses Widen as U.S. Insurance Woes Continue

"The third quarter was less-than-kind to the PMI Group, Inc. (PMI: 2.50 +0.40%), with the mortgage insurer announcing Monday morning a third quarter loss of $149.3 million, or $1.83/share; the loss widens a year-ago quarterly loss of $110.6 million, or $1.32/share. Revenues at the company’s U.S. insurance unit, which comprise the bulk of its business, fell 33.4 percent, as the insurer continued to tighten its guidelines amid rising losses on existing MI policies."