Price of Triad Guaranty shares hits a 12-year low Mortgage delinquencies produce $32 million loss

The company, based in Winston-Salem, provides private mortgage insurance to such residential-mortgage lenders as banks, credit unions and brokers. Triad Guaranty said that its losses during the quarter rose to $106.8 million, compared with $19.3 million a year ago. It also raised its reserve by $78.3 million in the quarter, compared with a reserve increase of $5.7 million a year ago. The share price closed down $2.19, or 26.6 percent, to $6.04. The stock fell as low as $5.50 a share.

The company s share price has fallen 90 percent from its 52-week high of $58.62 on Jan. 24. The last time the stock closed below $6 was in May 1995 at $5.98. Triad Guaranty reported an earnings loss of $2.13 a share, compared with diluted earnings of $1.30 a share in the third quarter of 2006.
Full text