Arch U.S. MI Acquires CMG from PMI Mortgage Insurance Co. and CMFG Life Insurance Company
January 30, 2014
Today, Arch Capital Group Ltd. announced that its U.S. – based subsidiaries (Arch U.S. MI) have acquired CMG Mortgage Insurance Company (CMG), a current Freddie Mac-approved mortgage insurer, from PMI Mortgage Insurance Co. (PMI). Arch U.S. MI also purchased PMI’s mortgage insurance operating platform.
Freddie Mac has approved an Arch U.S. MI entity, Arch Mortgage Insurance Company (Arch MI), as its mortgage insurance counterparty. While the business acquisition closed today, Arch MI will continue to write mortgages in CMG’s name in the near future, and Sellers will continue to deliver such mortgages through the Freddie Mac selling system using:
- Uniform Loan Delivery Dataset (ULDD) Data Point: MI
- Company Name Type: "CMG"
- MI Code: 38
When the name change is updated throughout our delivery system, Freddie Mac’s Single-Family Seller/Servicer Guide, Exhibit 10, Freddie Mac-Approved Mortgage Insurers, will be updated and a separate notice with delivery instructions will be released.
For More Information
- Press release issued by Arch Capital Group Ltd.
- Contact your Freddie Mac representative.