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Chapter 11 bankruptcy code after the seizure of two of its subsidiaries by regulators in Arizona. The company said Wednesday it filed a petition for relief with the U.S. Bankruptcy Court in Delaware. PMI says
I was forced into bankruptcy following a judge's decision that upheld the takeover by Arizona state regulators of PMI's primary unit to insure mortgages. PMI pays lenders after a homeowner defaults and a foreclosure fails to recover enough to cover
The chief executive of Radian Group Inc. warned that lenders and insurers need to work closely with the U.S. government to prevent further housing-market "shocks" in the wake of the takeover of a rival mortgage insurer by Arizona regulators last week.
A key piece of the nation's mortgage market is showing new cracks. Arizona regulators have taken over a big mortgage insurer and put restrictions on its claims payments, the latest indication that the housing bust is not finished taking casualtiesand
Insurance regulators in Arizona have seized the main subsidiary of private mortgage insurer PMI Group Inc. A statement on PMI's website says a court order gives Arizona's Department of Insurance full possession and control of the
I Group Inc. said Friday the New York Stock Exchange has notified the company that it fell below the exchange's listing standard that requires a minimum average closing price of $1 per share over 30 consecutive trading days.
I Group Inc. warned investors on Thursday that it may be unable to continue selling new policies and could shut down. The news sent shares of the Walnut Creek, Calif.-based company plunging to their lowest point in more than two
PMI Group Inc. (PMI), the third-largest U.S. mortgage insurer, fell in New York trading after saying losses may bring the firm out of compliance with regulatory standards by the end
I Group Inc. lost $773 million in 2010, up from a loss of $659.3 million in 2009. PMI) saw its total revenue fall by more than a quarter to $654.3 million in 2010, down from $911.9 million in 2009. PMI did cut its fourth quarter loss to $184.4
The mortgage insurer lost $281.1 million, or $1.74 a share, on revenue of $232.9 million, for the July-September quarter...In the year-ago-quarter, PMI lost $93.2 million, or $1.13 a share...PMI also reported a jump in new insurance written to insure