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PMI may sever ties to troubled firm.
By Rick Jurgens, Contra Costa Times, Walnut Creek, Calif. Knight Ridder/Tribune Business News
Jan. 22--PMI Group, a Walnut Creek-based insurance company, may soon unload its majority interest in a controversial Salt Lake City company that in 2003 paid $55 million to settle charges that it gouged and pressured low-income homeowners from whom it collected mortgage payments.
PMI announced Friday that Credit Suisse First Boston, a huge investment bank, had acquired an option until July 31 to buy Select Portfolio Servicing, a mortgage servicing company that was enveloped in a firestorm of scandal when it operated under its previous name of Fairbanks Capital …
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