The insurer financial strength rating on CMG Mortgage Insurance Co. (CMG) is based on the following: Ownership, support and capital: CMG is a 50/50 joint venture of PMI Mortgage Insurance Co. (PMI), a major U.S. and international mortgage insurer, and CUNA Mutual Insurance Society (CUNA), an insurer owned by more than 1,000 credit union policyholders. PMI and an affiliate of CUNA severally commit, on a capped basis, to maintain CMG's risk-to-capital ratio at a maximum of 18:1 and to cause CMG to take all reasonable steps necessary to maintain a capital score of 100% of 'AAA' under Standard & Poor's risk-based capital adequacy model for U.S. domestic mortgage insurers. Because the CUNA affiliate is unrated, assets in a trust account
