Mortgage Insurer PMI Warns of Shutdown; Shares Plummet

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Mortgage Insurer PMI Warns of Shutdown; Shares Plummet

Mortgage Insurer PMI Warns of Shutdown; Shares Plummet

WSJ-

Mortgage insurer PMI Group Inc. warned Thursday that it could be forced to stop selling new coverage, sending shares plunging.

The company, which has reported about $3 billion in losses since the fourth quarter of 2007 and the start of the housing crisis, said a backup plan intended to allow the company to stay open for business if its primary subsidiary faltered had “no assurance” of continuing to …

[WALL STREET JOURNAL]

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