AIG's MI Unit Loses $215M in 3Q

United Guaranty Corp., the nation's fourth-largest mortgage insurer, lost $215 million in the third quarter, citing "unfavorable loss experience" tied to the declining housing market.The UGC loss was disclosed when its parent company, American International Group, reported its earnings on Nov 7. In the third quarter of 2006, the Greensboro, N.C.-based UGC earned $80 million. AIG's consumer finance division, which includes American General Finance, posted an $80 million profit in the third quarter, a 64% drop from that of a year earlier. AGF said its operating income fell because of reduced originations, higher warranty reserves, and increased loan loss reserves. UGC can be found on the Web at http://www.ugcorp.com.