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PMI Europe Does Default Swap.(PMI Mortgage Insurance Company)(Brief Article)
The PMI Group Inc.'s European mortgage insurance subsidiary has reported that it has completed a mortgage credit default swap agreement with Commerzbank Securities.
As part of the swap arrangement, PMI Mortgage Insurance Co. Ltd. has assumed $31.3 million in default risk on a $1.2 billion German residential mortgage portfolio originated by HVB Real Estate Bank, a mortgage subsidiary of HypoVereinsbank. This structure allows the ...
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Source: HighBeam Research, PMI Europe Does Default Swap.(PMI Mortgage Insurance Company)(Brief...