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By Rick Jurgens, Contra Costa Times, Walnut Creek, Calif. Knight Ridder/Tribune Business News
May 10--A management shakeup at Fairbanks Capital Corp., a subsidiary of Walnut Creek-based PMI Group Inc. that is the subject of federal investigations over its treatment of mortgage borrowers, installed PMI No. 3 man Brad Shuster as Fairbanks' board chairman.
Fairbanks founder, chairman and chief executive Tom Basmajian got the ax in a shuffle that moved PMI closer to the center of the controversy swirling around Fairbanks, the country's largest provider of mortgage payment collections from homeowners with poor credit.
The CEO job went to James …