PMI Group

IndustryMortgage Insurance
Founded1972;
FounderPreston Martin
FateIn Receivership
HeadquartersWalnut Creek, California, United States
Websitewww.pmi-us.com

The PMI Group is a holding company whose primary subsidiary is the PMI Mortgage Insurance Co. (PMI). The company was founded in 1972 by Preston Martin and is headquartered in Walnut Creek, California.

PMI has a 50% equity ownership in CMG Mortgage Insurance Company, founded in 1994 as a JV with *C*UNA *M*utual *G*roup, and CMG Mortgage Assurance Company (collectively CMG MI), a provider of *p*rivate *m*ortgage *i*nsurance to the credit union industry.

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.

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