U.S. mortgage issuer MGIC posts huge loss

Story date: 2008-02-13 09:43:00
Added on: 2008-02-14 16:00:47

International Herald Tribune - Home buyers typically must get mortgage insurance when they put down less than 20 percent of their home's value. When they miss payments, the insurers pay lenders. If homes end up in foreclosure, both lenders and insurers lose money. Revenue for the ...


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