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If Barbie can't afford a full 20% down payment on her Malibu dream home, her mortgage lender could still bring in The PMI Group. The company is one of the largest US providers of mortgage insurance, which protects lenders in case of borrower default. It also insures the bundles of existing loans known as structured finance products. In addition, PMI is the primary investor in the Financial Guaranty Insurance Company (FGIC), which offers financial guaranty insurance on public bonds. The company's international operations provide mortgage insurance and credit enhancement services in Europe. PMI has been exiting businesses and tightening its belt in hopes of surviving the real estate market implosion.
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| | | Contact Information | |
Address: |
3003 Oak Rd.
Walnut Creek, CA 94597-2098
| | Phone: | 925-658-7878 | | Fax: | 925-658-6931 |
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| Financial
Highlights | | Fiscal Year End: | December | | Revenue (2008): | 907.80 M | | Revenue Growth (1 yr): | (-23.40%) | | Employees (2008): | 736 | | Employee Growth (1 yr): | (-32.10%) |
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Key People
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Chairman, President, CEO, and COO; CEO, PMI Mortgage Insuran:
L. Stephen (Steve) Smith
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EVP, CFO and Chief Administrative Officer:
Donald P. Lofe Jr.
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VP Public Relations:
Tom Taggart
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