CMGMI's public statements on PMI bankruptcy so far have stressed its lack of impact on the firm's day-to-day operations and financial health.
The State of Arizona moved in last week to assume control of PMI Mortgage Insurance, one of the two shareholding companies of CUNA Mutual Group Mortgage Insurance, the leading mortgage insurer for credit unions in the U.S.
The definition of what or will not constitute a qualified residential mortgage may be the most important and least appreciated or understood financial regulation facing credit unions this year.
This look at a key Aug. 1 deadline is just one of the articles that will appear in the next edition of Credit Union Times.
Executives from CUNA and CUNA Mutual Insurance Group are asking more credit unions to comment on ongoing discussions about the definitions of what will be a qualifying residential mortgage, or QRM.