The insurer financial strength rating on CMG Mortgage Insurance Co. (CMG) is based on the following: -- Business position. CMG writes mortgage insurance solely for borrowers who are members of credit unions. Aided by its affiliation with CUNA Mutual Insurance Society (CUNA Mutual), it insures about 60% of the mortgages written by credit unions that require mortgage insurance. Although CMG is a relatively new insurer, loss development in the more than 60,000 mortgages in its risk portfolio indicates that credit union members could pose substantially better risks than the broad universe of mortgagors who need mortgage insurance. Geographical dispersion of CMG's risk portfolio is excellent. However, the company is very small, with less than 1% of the industry risk in
