Mortgage insurers Triad Guaranty and PMI Group closed out the end of trading on Monday on high notes despite the Dow closing down nearly 156 points. Winston-Salem, N.C.-based Triad saw its stock price close at $1.10 per share, up 22.2%. PMI, Walnut Creek, Calif., ended the day at $2.36 per share, a 26.9% rise. PMI recently reported improved financial results for the first quarter 2009 over the same period last year, but the amount of new insurance written declined while the default rate increased. The company lost $115.3 million for the quarter, compared with a loss of $274 million for the first quarter of 2008.
Processing Content
