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Mortgage Insurance Defaults Hit Record.
Washington-While mortgage insurers remain under stress, they saw a slight improvement in a key measure of credit performance in October, despite a record high default rate.
The cure/default ratio for October 2008 improved by 10 basis points over the prior month, to 54%, with 43,211 cures and 80,071 defaults. It's unclear what impact widespread loan modification programs are having on the data.
The default number is the highest reported in 2008, an increase ...
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