CONTACT:
Marisa Rawling
Marketing Communications Manager
CMG Mortgage Insurance Co.
22 Fourth Street, Floor 13
San Francisco, CA  94103
Phone:  (415) 284.2519
Fax:  (800) 490.6757
marisa.rawling@cmgmi.com

November 5, 2007

Fitch Affirms “AA” Rating for CMG Mortgage Insurance Company
 
SAN FRANCISCO, Calif. – CMG Mortgage Insurance Company (CMG MI) announced today Fitch Ratings (Fitch) has affirmed the company’s “AA” insurer financial strength (IFS) rating, with a Rating Outlook of Stable.
 
The Fitch release cited CMG MI’s “solid niche position within the credit union market, strong underwriting earnings, high-quality balance sheet, explicit financial support from its parent companies, and the lower risk of its insured loan portfolio relative to other mortgage insurers.”
 
“I’m pleased by Fitch’s decision to affirm our rating,” said Brian Shepherd, senior vice president and general manager of CMG MI.  “CMG MI has scrutinized the mortgage market carefully over the past several years and developed our strategic goals based on the trends we saw emerging.  As a result, CMG MI is now well-prepared to meet the challenges of the current market, both in terms of capital reserves to handle claims and the comparatively lower risk of our insured portfolio.”
 
Delinquencies and foreclosures have risen across the United States in the wake of the collapse of the subprime market during the summer, and more recent turmoil in the credit markets.  Many mortgage insurance providers are experiencing a high number of claims from servicing lenders due to the general slowing of the overall residential housing market.
 
According to Kathy Schroeder, senior vice president and general manager, “CMG MI is in a very strong position.  As the only mortgage insurance provider that exclusively serves credit unions, we have benefited from the high quality of business originated by credit unions as well as the early implementation of risk management and loss mitigation techniques.  Our customers recognize the value we offer combines both extensive experience in a wide variety of economic scenarios and the expertise to manage those scenarios successfully."

ABOUT CMG MI
 
Licensed in all states, CMG Mortgage Insurance Company (CMG MI) operates as a joint venture between CUNA Mutual Investment Corporation and PMI Mortgage Insurance Co.  The company provides private mortgage guaranty insurance to protect credit unions against potential losses in the event of borrower default.  By covering default risk on residential first mortgage loans, CMG MI facilitates the sale of low-down-payment mortgages in the secondary mortgage market and expands homeownership opportunities by enabling credit union members to buy a home with a down payment of less than 20 percent.  For more information, visit www.cmgmi.com or call (800) 909.4264.