Private mortgage insurer PMI Group Inc. has emerged from chapter 11 protection, the Associated Press reported yesterday. The company filed for bankruptcy protection in November 2011 after two of its subsidiaries were seized by regulators in Arizona. The regulators seized PMI Group's main subsidiaries in the state, PMI Mortgage Insurance Co. and PMI Insurance Co., because the companies did not have enough money on hand to meet state requirements. PMI Group suffered heavy losses once the housing market bubble popped.
