NEW YORK (Standard & Poor's) March 5, 2003--Standard & Poor's Ratings Services said today that it affirmed its 'AA-' counterparty credit and financial strength ratings on CMG Mortgage Insurance Co. (CMG). The outlook is stable. "The company has an extremely strong level of capital, exhibits superior loss ratio performance due to its niche in exclusively servicing credit unions, and continues to improve in the area of expense cost management," said Standard & Poor's credit analyst Charles Titterton. Losses might rise faster than delinquencies as CMG's cure ratio is worse than average, even though delinquencies might rise industry-wide, as they have since 2001. The company will continue to generate the industry's best loss ratio. The expense ratio, already having decreased will
