PMI Group Inc., the second-biggest U.S. mortgage insurer, cut its estimate of claims to be paid this year for the second time in five weeks.

The Walnut Creek, Calif., company said Thursday that it expects full-year paid claims of $810 million to $835 million, down from its $850 million to $900 million forecast last month. The November estimate was a 7.7% cut from previous projections.

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