Sale of jointly owned mortgage insurer will take a while to finalize because of bankruptcy complications of partner firm.
Bermuda-based insurer will operate firm through distribution and reinsurance agreement pending Arizona regulator, other approvals.
Agency looking at alleged kickbacks to bankers, violations of RESPA.
A bill that would allow privately insured credit unions access to the Federal Home Loan Bank system has been introduced in the House.
The ongoing saga involving PMI Mortgage Insurance and CUNA Mutual Group Mortgage Insurance entered into a new stage on Thanksgiving Eve when the PMI Group, PMI MI's holding company, filed for bankruptcy in federal court.
CMG Mortgage Insurance Co. said that a recent action by Arizona’s Department of Insurance placing PMI Mortgage Insurance Co. under supervision will not impact the firm’s new business originations or servicing of existing policies.
PMI Group and PMI Mortgage ordered to stop issuing new insurance commitments without state approval.