The mortgage insurance company was placed into receivership in 2012 by the Arizona Department of Insurance and never went out of business. Technically, the business is a non-controlled subsidiary. Eventually, the policies will run off due to insured properties being paid off or sold. At some point, PMIR would regain control once capital levels meet or exceed regulatory guidelines.
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International