The Arizona Department of Insurance has put PMI Mortgage Insurance Co. and PMI Insurance Co. under the department’s supervision, and required them to cease issuing new mortgage insurance commitments effective as of the close of business Aug. 19, 2011, unless otherwise approved by the director or the supervisor that has been appointed over the firms. Under the order, MIC and PIC may issue mortgage insurance policies under pending commitments through the close of business on Sept. 16, 2011. In addition, PMI Mortgage Insurance Co. must cease making interest payments on the $285 million in aggregate principal amount of surplus notes that it has issued. During the period of supervision, the two companies are prohibited from taking a variety of actions without approval, including lending funds, merging with another company, entering into reinsurance contracts ...