Now is not the time to be in the guaranty business, especially here in the NC Piedmont.  First, Triad Guaranty said they were throwing in the towel and more recently posted a nasty loss for the second quarter, and now AIG’s underwriter United Guaranty has declared a $564 million underwriting loss for the 2nd quarter of this year.  United also said that 4.9% of policies were over 60 days past due.

Oy.