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MI Defaults Exceed Cures

Month Cures Default

June '04 32,346 42,208

July '04 31,340 46,131

Aug. '04 36,602 42,482

Sept. '04 34,451 43,656

Oct. '04 33,532 45,343

Nov. '04 36,237 43,050

Source: MICA

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