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Home > Property Insurance Coverage > Home Owners Insurance > PMI Mortgage Insurance Company
PMI Mortgage Insurance Company
The PMI Group, Inc., headquartered in Walnut Creek, California, is an international provider of credit enhancement products and lender services that promote homeownership and facilitate mortgage transactions in the capital markets. Through its wholly owned subsidiaries and unconsolidated strategic investments, the company offers residential mortgage insurance and credit enhancement products domestically and internationally, lender services and financial guaranty reinsurance. Through its subsidiaries, PMI is one of the largest private mortgage insurers in the United States, Australia, New Zealand, and the European Union, as well as the largest mortgage guaranty reinsure in Hong Kong.
The firm offers a full range of mortgage guaranty insurance products and services, including contract underwriting and risk management technology applications. Private mortgage insurance protects mortgage lenders against potential losses in the event of borrower default. By covering default risk on residential first mortgage loans, mortgage insurance facilitates the sale of low down payment mortgages in the secondary mortgage market. In addition, private mortgage insurance expands homeownership opportunities by enabling borrowers to purchase homes with down payments of less than 20 percent.
The firm is an advocate of affordable housing and supports a number of organizations that foster greater access to affordable housing. Their approach to affordable housing lending is to develop products and services that assist responsible borrowers who may not qualify for mortgage loans under traditional underwriting practices.
They believe that people are critical to a company’s success. They are committed to creating a workplace environment that enables each employee to give his or her best and to receive the best in return. As business partners with other PMI executives, they have developed and integrated their benefits programs to make them one of the most highly sought after employers in the country.
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