PMI Launches Online Mortgage Options Assessment Tool

WALNUT CREEK, Calif., Nov. 13 /PRNewswire/ -- PMI Mortgage Insurance Co., a leading U.S. mortgage insurer and advocate of sustainable homeownership, today announced a new tool for homeowners facing potential foreclosure on their home. The Mortgage Options Assessment Tool (http://www.HomeSafePMI.com) enables homeowners to organize, calculate, and produce reports on their current financial situations prior to meeting their lenders or counselors to discuss solutions to foreclosure. This is a free online tool available to anyone.

"This is another of PMI's efforts to help streamline the process for homeowners," said John Jelavich, Vice President of PMI's Homeownership Preservation Initiatives. "We have found the two biggest hurdles for homeowners are realizing the options that are available, and getting organized before meeting lenders. This tool helps educate borrowers and is designed to expedite the process. The homeowner report generated by this online tool is extremely helpful to lenders who are managing an unprecedented level of activity created by the current housing crisis."

When homeowners log on to http://www.HomeSafePMI.com, they can click on the Mortgage Options Assessment icon on the home page. In the form, homeowners can input relevant information, such as property information, income, assets and monthly expenses, to create a report that they can use when meeting with their lenders or counselors. After inputting the information, homeowners can print the completed form to take with them to meetings with their financial advisors. PMI does not save or collect any personal information that it could use to identify homeowners.

PMI is the first mortgage insurance company to join the Hope Now Alliance, and is an active participant in borrower education and Hope Now events nationwide. HOPE NOW is an alliance between HUD approved counseling agents, servicers, investors and other mortgage market participants that provides free foreclosure prevention assistance and, with help from the broader mortgage industry, has prevented nearly 2.5 million foreclosures since July 2007.

PMI Mortgage Insurance Co.

PMI Mortgage Insurance Co. (PMI US), a subsidiary of The PMI Group, Inc. (NYSE: PMI) , provides residential mortgage insurance to mortgage lenders, capital market participants, and investors throughout the United States. PMI US is incorporated in Arizona, headquartered in Walnut Creek, CA, and licensed in all 50 states, the District of Columbia, Puerto Rico, Guam, and the Virgin Islands. By mitigating default risk, residential mortgage insurance expands home ownership opportunities, enabling borrowers to buy homes with down payments of less than 20%. Mortgage insurance also assists financial institutions in reducing the capital they are required to hold against low down payment mortgages, providing liquidity and facilitating the sale of these loans in the secondary mortgage market. For more information: http://www.pmigroup.com.