Private mortgage insurers reported a modest decline in net income from their U.S. MI activities during the second quarter of 2005, according to a new Inside Mortgage Profitability analysis of company earnings statements. Six of the seven private MIs active in the market posted a combined $449.0 million in net income on U.S. operations during the second quarter. Results from United Guaranty are not yet available, as the MI’s parent company, AIG, is working… [One data table included]