<p>CHICAGO -Fitch Ratings has affirmed CMG Mortgage Insurance Company’s `AA’ insurer financial strength rating. As part of its review process, Fitch stress tested CMG’s insured mortgage portfolio to estimate the impact a severe economic downturn and the resulting mortgage loan defaults could have on the company’s capital position. The results suggest that during a period of heightened mortgage defaults, such as those experienced during a severe recession, CMG would be able to meet its financial obligations. Between 1997 and 2001 CMG’s net premiums written grew at a 38% compound annual growth rate. CMG’s 2001 premiums written increased 16% to $35.1 million and pretax operating income increased 27% to $14.8 million. According to Fitch, CMG is one of eight companies that dominate the market for private mortgage insurance in the U.S.</p>

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