Even as mortgage lenders are having a rough time, mortgage insurers are sitting pretty.

Three of the four publicly traded mortgage insurance companies - PMI Mortgage Insurance of San Francisco, Radian Group of Philadelphia, and MGIC Investment Corp. of Milwaukee - blew past the consensus estimates for per-share earnings in the second quarter, all posting gains of 20% or more. The fourth, Triad Guaranty, met the consensus, reporting a 15% gain.

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