PMI Group, a mortgage insurer, announced that Principal Portfolio Services Inc. is the first mortgage due diligence firm to license PMIAura, its automated underwriting and mortgage scoring system.

PMIAura will enable Principal Portfolio to include mortgage scores in the data it prepares for firms that package and trade mortgage-backed securities and whole loan pools. The PMIAura score is used to assess default risk.

Costa Mesa, Calif.-based Principal Portfolio is a subsidiary of Principal Financial Group, best known for its Principal Mutual Life Insurance Co.

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