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Mortgage insurer MGIC InvestmentCorp posted its first quarterly profit in three years as fewer people defaulted on their home loans, sending its shares up as much as 16 percent in premarket trading.

Mortgage insurer MGIC InvestmentCorp posted its first quarterly profit in three years as fewer people defaulted on their home loans, sending its shares up as much as 16 percent in premarket trading.

Life and mortgage insurer Genworth Financial Inc. said it will cut 400 jobs to reduce costs by up to $90 million a year.

Triad Guaranty Inc filed for Chapter 11 bankruptcy protection on Monday, court documents showed, after the U.S. mortgage insurer was hurt by higher insured losses on the back of weakness in the jobs and housing market.

Triad Guaranty Inc filed for Chapter 11 bankruptcy protection on Monday, court documents showed, after the U.S. mortgage insurer was hurt by higher insured losses on the back of weakness in the jobs and housing market.

Four mortgage insurers agreed to pay about $15 million to settle claims they paid kickbacks to mortgage lenders in exchange for business.

Arch Capital Group last Friday acquired CMG Mortgage Insurance Co. from PMI Mortgage Insurance Co., a move that Moodys Investors Service sees as positive for Arch but credit-negative for existing players in the mortgage-insurance market that may have to contend with well-capitalized new entrants going forward.

The Consumer Financial Protection Agency is conducting a broad investigation into mortgage insurers business practices amid allegations of illegal kickbacks to bankers in order to gain access to customers in need of private mortgage insurance.