PMI Group
Encyclopedia
The PMI Group is a holding company whose primary subsidiary is the PMI Mortgage Insurance Co. (PMI).
PMI has a 50% equity ownership in CMG Mortgage Insurance Company and CMG Mortgage Assurance Company (collectively CMG MI), a provider of private mortgage insurance to the credit union industry.
The company was founded in 1972 by Preston Martin
and is headquartered in Walnut Creek, California
.
In October,2011, Arizona insurance regulators seized PMI's main subsidiary and reduced claim payouts to 50% of the claim made with the balance of each claim being deferred.http://online.wsj.com/article/SB10001424052970204485304576647102469095920.html?ru=yahoo&mod=yahoo_hs
PMI has a 50% equity ownership in CMG Mortgage Insurance Company and CMG Mortgage Assurance Company (collectively CMG MI), a provider of private mortgage insurance to the credit union industry.
The company was founded in 1972 by Preston Martin
Preston Martin
Dr. Preston Martin was an American banker and public official best known as the Vice Chairman of the Federal Reserve Board between 1982 and 1986. -Education:...
and is headquartered in Walnut Creek, California
Walnut Creek, California
Walnut Creek is an incorporated city located east of the city of Oakland. It lies in the East Bay region of the San Francisco Bay Area. While not as large as neighboring Concord, Walnut Creek serves as the business and entertainment hub for the neighboring cities within central Contra Costa...
.
In October,2011, Arizona insurance regulators seized PMI's main subsidiary and reduced claim payouts to 50% of the claim made with the balance of each claim being deferred.http://online.wsj.com/article/SB10001424052970204485304576647102469095920.html?ru=yahoo&mod=yahoo_hs