CMG MI Program Guideline Changes for All Programs – Effective 7/6/10

Effective July 6, 2010, CMG Mortgage Insurance Company (CMG MI) is making one change to our Conforming & Non-Conforming Program Guidelines.

Please click here to see our complete Conforming & Non-Conforming Program Guidelines, effective 7/6/10.

Please review Credit Risk Bulletin #6-10 for more details of the 7/6/10 changes.

Please read our Guidelines Comparison for additional information on the 7/6/10 changes.

The following should be noted:

• Changes supersede previously issued CMG MI approved program variations
• Changes apply regardless of submission channel to CMG MI
• Changes apply regardless of any Automated Underwriting System (AUS) recommendation or decision

Also effective 7/6/10, CMG MI is also making significant changes to our Distressed Markets List. Please visit www.cmgmi.com/distressed_markets for details.

Change to CMG MI’s Conforming & Non-Conforming Program Guidelines, Effective 7/6/10:

• Loan Purpose – Balloons are now eligible for up to 90% LTV Cash-Out Refinances

Please make any necessary changes to your systems and notify your staff and branches as soon as possible. Questions? Please contact your CMG MI Account Executive.