PMI Profit Hurt By Fairbanks Unit

NU Online News Service, Oct. 23, 3:51 p.m.EDT?A big penalty to settle allegations of fraudulentactivities by one of its holdings pushed third-quarter income downat mortgage insurance giant PMI Group Inc. by almost a third to$60.1 million, the company said.

During the comparable period last year net income was $89.3million for the Walnut Creek, Calif.-based firm.

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