Insurance

S&P Cuts Four Major Mortgage Insurers; Projects Worsening Housing Slump 

Standard & Poor’s Ratings Services said late Tuesday that it had slashed the ratings of key mortgage insurers amid growing economic uncertainty and fresh expectations that the U.S. housing slump would be deeper expected. The move at S&P comes less than a week after rival Fitch Ratings was the first to cut a major mortgage insurer, Triad Guaranty.