Strong credit quality of credit union customers Conservative underwriting philosophy Leaders in the credit union sector Improved private mortgage insurance market dynamics Heightened competition from other mortgage insurers in the credit union market Narrow focus in the credit union segment Standard&Poor's Ratings Services' insurer financial strength rating on CMG Mortgage Insurance Co. (CMG MI) is based on its leadership position within its niche credit union market, the strong credit quality of credit union customers, and the company's conservative underwriting philosophy. Offsetting these strengths are sustained competition from peers in the credit union market and CMG MI's narrow focus on this market. Through the first half of 2013, credit unions originated about 7.1% of all U.S. mortgages. CMG MI
