The unique nature of insurance and insurance regulation have combined to prevent the federal bankruptcy of an insurance holding company from having any impact on the leading credit union mortgage insurer, according to an executive with CUNA Mutual Group Mortgage Insurance.
The PMI Group, the holding company for PMI Mortgage Insurance, filed for federal bankruptcy protection on Nov. 23. The bankruptcy filing followed after the Arizona Department of Insurance had taken interim control of PMI Mortgage Insurance and a federal court affirmed that move.
PMI Mortgage Insurance, along with CUNA Mutual Group, is one of the co-owners of CMGMI.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
