Mortgage Insurer Posts $887M Annual Loss

" Mortgage insurer the PMI Group Inc. (PMI: 0.5302 +20.50%) on Monday reported a $181 million loss — or $2.22 per share — for continuing operations in the fourth quarter, compared with a third-quarter loss of $149.3 million, or $1.83 per share. The company also reported it’s full-year 2008 loss at $877.2 million — or $10.90 per share. Losses in the U.S. mortgage insurance operations — and specifically impairments of certain preferred equity securities in the segment’s portfolio — drove the loss, PMI said."