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(Bloomberg) — MGIC Investment Corp., the No. 3 U.S. mortgage guarantor, declined in New York trading after posting profit that missed some analysts’ estimates as sales of home-loan guarantees slowed.

Net income was $45.5 million, or 12 cents a share, trailing by 2 cents the average estimate of analysts surveyed by Bloomberg. Policy sales fell 9.8% to $213.4 million, Milwaukee-based MGIC said today in a statement, MGIC fell 5.9% to $7.86 at 9:46 a.m. in New York.

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