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CMG Mortgage Insurance Company Announces Retirement Of Joe Dillon
NEWS RELEASE:
From CUNA Mutual Group Public Relations
www.cunamutual.com
For more information:
Phil Tschudy 608.231.7188 philip.tschudy@cunamutual.com
Marisa Rawling 415.284.2519 marisa.rawling@cmgmi.com
SAN FRANCISCO – CMG Mortgage Insurance Company (CMG MI) announced Senior Vice President and General Manager Joe Dillon will retire Oct. 31.
Dillon came to CMG MI in 2009 after working at CUNA Mutual Group, where he held executive roles in various business units. Kimberly Shaul will assume Dillon’s leadership role and responsibilities at CMG MI.
“I’ve had the pleasure of working with Joe over the past year and have appreciated his steady guidance and the contributions he’s made in helping the company successfully navigate the challenges created by the mortgage crisis,” said CMG MI’s co-senior vice president and general manager, Michael Edwards. “I know I speak for the entire CMG MI team, as well as his many colleagues and friends at CUNA Mutual, in congratulating Joe on his retirement and thanking him for his service.”
CMG MI is a joint venture between PMI Mortgage Insurance Co. (PMI) and CUNA Mutual Insurance Society, and is managed by two senior vice presidents/general managers according to the terms of the joint-operation agreement. Edwards supervises insurance operations, including risk management, underwriting, customer service and loss mitigation, while Dillon was responsible for overseeing marketing, sales, legal and product development.
Shaul was most recently deputy secretary of revenue for the state of Wisconsin, subsequent to three years as the state’s deputy commissioner of insurance.
As a special deputy commissioner, Shaul acted as agency lead for the National Association of Insurance Commissioners in the financial supervision of monoline (bond and mortgage) insurers. This role necessitated Shaul’s extensive involvement with real estate finance-related issues and mortgage insurers, brokering discussions with Fannie Mae and Freddie Mac, federal regulators, credit rating agencies and financial advisors to evaluate the housing market and its impact on the companies she supervised.
Prior to joining the Wisconsin state government, Shaul held a variety of leadership roles at American Family Insurance Group in Madison.
“We’re looking forward to working with Kim and leveraging her solid experience in insurance operations and regulatory issues to strengthen our operations and the service we provide to credit unions,” Edwards said. “Kim is also familiar with many of the issues that most concern credit unions. Given her background, we’re looking forward to a smooth transition, with no interruption of service or support to our customers.”
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About CMG MI
Licensed in all states, CMG Mortgage Insurance Company (CMG MI) operates as a corporate joint venture between CUNA Mutual Insurance Society and PMI Mortgage Insurance Co. The company provides private mortgage guaranty insurance to protect credit unions against potential losses in the event of borrower default. By covering default risk on residential first mortgage loans, CMG MI facilitates the sale of low-down-payment mortgages in the secondary mortgage market and expands homeownership opportunities by enabling credit union members to buy a home with a down payment of less than 20 percent. For more information, visit www.cmgmi.com or call 800.909.4264.
About CUNA Mutual Group
CUNA Mutual Group insurance, retirement and investment products provide financial security and protection to credit unions and their members worldwide. With more than 75 years of true market commitment, CUNA Mutual’s vision is unwavering: To be a trusted business partner who delivers service excellence through customer-focused products and market-driven insight. More information on the company is available on the company’s Web site at www.cunamutual.com.
CUNA Mutual Group is the marketing name of CUNA Mutual Insurance Society, its affiliates and subsidiaries, including CUMIS Insurance Society, Inc. Product availability and features may vary by jurisdiction and are subject to actual policy language. Corporate headquarters are located in Madison, Wisconsin.