FHLB Boston Won't Purchase CMG Insured Mortgages

Effective October 19, the Federal Home Loan Bank of Boston will no longer purchase mortgages with primary mortgage insurance provided by mortgage insurer CMG Mortgage Insurance.

By Heather Anderson | August 20, 2009 at 08:00 PM

Effective October 19, the Federal Home Loan Bank of Boston will no longer purchase mortgages with primary mortgage insurance provided by mortgage insurer CMG Mortgage Insurance.

Furthermore, the Bank has declared such loans will no longer be eligible for sale under its Mortgage Partnership Finance Program until further notice. First Vice President Mortgage Manager Paul Pouliot made the announcement in an August 19 letter to all participating institutions.

CMG Mortgage Insurance is jointly owned by CUNA Mutual Insurance Society and PMI Mortgage Insurance Co.

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FHLB Boston Won't Purchase CMG Insured Mortgages

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