PMI Group posts $87 million Q3 loss

Mortgage insurer PMI Group Inc. said Tuesday it lost $86.8 million during the third quarter as the company boosted revenue but saw paid claims, loss adjustments and reserves for losses grow to $372 million.

In U.S. mortgage insurance operations, revenues for the quarter were actually up 20 percent compared to a year ago, to $241 million, thanks to growth in net premiums written and earned.

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