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PMI Posts $274 Million Loss; Borrower Defaults Rising Quickly 

May 12, 2008By

The PMI Group, Inc. [stock PMI][/stock] said Monday morning that it lost $274 million, or $3.37/share, during the first quarter as its mortgage insurance operations in the U.S. continued to reel from increasing borrower defaults and rising loss severity. The first quarter loss compares to earnings of $102 million, or $1.16/share, in the year-ago period.