Top Qs
Timeline
Chat
Perspective
PMI Group
A holding company whose primary subsidiary is the PMI Mortgage Insurance Co From Wikipedia, the free encyclopedia
Remove ads
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.
 | This article relies largely or entirely on a single source. (December 2019) |
PMI has a 50% equity ownership in CMG Mortgage Insurance Company, founded in 1994 as a JV with CUNA Mutual Group, and CMG Mortgage Assurance Company (collectively CMG MI), a provider of private mortgage insurance 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.[1] Shortly afterward, PMI filed for bankruptcy.[2]
Remove ads
References
Wikiwand - on
Seamless Wikipedia browsing. On steroids.
Remove ads