PMI Canada Launches Website for Expanded Mortgage Insurance Business

The PMI Group, Inc. (NYSE: PMI) today announced the launch of a new website to support its planned expansion into the Canadian mortgage insurance market. The website -- www.pmicanada.ca -- provides lenders with information about PMI, as well as about the products and services PMI plans to offer in Canada. Available in both English and French, the site also provides links to PMI's corporate site and to other websites supporting PMI's mortgage insurance businesses in Europe, Asia, Australia, New Zealand and the United States.

"The creation of the PMI Canada website serves as an introduction to our company and demonstrates our commitment to entering the Canadian market and offering more choices to Canadians," said Janet Martin, Managing Director of PMI Canada. "Subject to final regulatory approval, we expect to establish and grow our business and our website will grow along with it."

In May, PMI announced it had filed an application with the Office of the Superintendent of Financial Institutions to write mortgage insurance in Canada. In September it appointed David Liu as Head of Operations for PMI Canada and in October appointed Janet C. Martin Managing Director for PMI Canada. PMI has also announced the members of its Board of Directors for PMI Canada, including both senior PMI executives and experienced Canadian business people as independent/outside directors. Once it has received regulatory approval, PMI Canada will offer loan-level primary mortgage insurance for residential mortgages and portfolio insurance applied to pools of mortgage loans.

<<

About The PMI Group, Inc.

>>

The PMI Group, Inc., headquartered in Walnut Creek, CA, provides innovative credit, capital, and risk transfer solutions that expand homeownership and fund essential services for our customers and the communities they serve around the world. Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products, financial guaranty insurance, and financial guaranty reinsurance. PMI has operations in Asia, Australia and New Zealand, Europe, and the United States. For more information: www.pmigroup.com.

Cautionary Statement: Statements in this release that are not historical facts or that relate to future plans, events or performance are "forward- looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Many factors could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements, including changes in business and other conditions, including general market conditions in the United States and Canada. Risks and uncertainties are discussed in PMI's SEC filings, including its Form 10-Q for the period ended September 30, 2006 and its Form 10-K for the year ended December 31, 2005. PMI undertakes no obligation to update forward-looking statements.

For further information: Investors, Bill Horning of The PMI Group, Inc., +1-925-658-6193, or Media - US, Beth Haiken of The PMI Group, Inc., +1-925-658-6192, or Media - Canada, John Lute of The PMI Group, Inc., +1-416-929-5883 Web Site: http://www.pmigroup.com

Author:  

Email:    

Topic:    

Content: