The PMI Group is a holding company whose primary subsidiary is the PMI Mortgage Insurance Co. (PMI).
PMI has a 50% equity ownership in CMG Mortgage Insurance Company, founded in 1994 as a JV with CUNA Mutual Group, and CMG Mortgage Assurance Company (collectively CMG MI), a provider of private mortgage insurance to the credit union industry.
In October 2011, Arizona insurance regulators seized PMI's main subsidiary and reduced claim payouts to 50% of the claim made with the balance of each claim being deferred. Shortly afterward, PMI filed for bankruptcy.
|This article about a financial services corporation of the United States is a stub. You can help Wikipedia by expanding it.|