Items Tagged with 'PMI Mortgage Insurance Co.'


  • Blackstone acquires ‘significant equity stake’ in mortgage insurer PMI Group

    Provides PMI Group with loan for right to take part in future equity offerings
    Blackstone is increasing its already substantial position in housing again, as funds affiliated with Blackstone Tactical Opportunities are set to acquire a “significant equity stake” in The PMI Group, a provider of mortgage insurance. PMI said that in connection with the purchase of a significant equity stake in PMI, Blackstone will provide PMI with a loan to be used for working capital.
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  • PMI Redesigns Borrower Outreach Web Site

    Walnut Creek, Calif.-based PMI Mortgage Insurance Co., [stock PMI][/stock] redesigned its Web site to better educate borrowers about foreclosure alternatives. PMI said its new site provides information to promote sustained homeownership with information on foreclosure facts, alternatives to foreclosure, including Making Home Affordable programs, videos and articles, and tips for not falling victim to mortgage fraud.
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  • PMI Expands Refi-to-Mod Program

    The refinance branch of the Obama administration's Making Home Affordable Program is currently limited to loans that are worth up to 105% of the property and that are owned or guaranteed by government-sponsored agencies Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock].
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  • Tech Roundup: Appraiser Management Tool Rolls Out, PMI Expands e-PMI Access

    Pittsburgh-based ServiceLink, a provider of origination and default services, has launched its Appraiser Panel Management (APM) product line, which the company says enables mortgage lenders to leverage ServiceLink's management staff and technologies to certify their compliance with the Home Valuation Code of Conduct (HVCC), while continuing to leverage the lender's own experienced appraiser panel.
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  • Recession to Depress Housing Prices Through 2010: Report

    As many as 374 of the nation’s 381 Metropolitan Statistical Areas - or 98 percent - are currently facing an increased risk of lower home prices through year-end 2010, according to data released Wednesday by PMI Mortgage Insurance Co. [stock PMI][/stock]. Albeit, the bit of good news, according to PMI's U.S. Market Risk Index and First Quarter Economic and Real Estate Trends Report, is 212 of the nation’s MSAs hold a minimal-to-low risk of lower prices in two years.
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  • Moody's Slashes Mortgage Insurers

    Moody's Investors Service announced on Friday sweeping downgrades among top U.S. mortgage insurers as delinquencies and foreclosures remain at historic high levels and the capital of these institutions is challenged.
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  • Foreclosures, Seasonality Weighing Down Home Prices: Report

    Home price declines now being observed in many housing markets reflect a historically-recurring mid-summer lull and the sometimes-extreme pressure being exerted on many markets by a growing number of foreclosures, according to data released Thursday by Radar Logic Inc., a New York-based data and real estate analytics firm.
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  • Risk of Home Price Declines Intensifies in Q2: Report

    Home prices are likely to continue their recent declines, due to largely to elevated foreclosures and rising unemployment rates, according to data released Wednesday by PMI Mortgage Insurance Co. The Walnut Creek, Calif.-based mortgage insurer released its Fall 2008 U.S. Market Risk Index, which ranks the 50 largest U.S. metropolitan areas according to the probability of home price decline within two years.
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  • PMI to Sell Off Asia Mortgage Insurance Ops

    A retrenching of operations around the troubled U.S. housing market at The PMI Group, Inc. [stock PMI][/stock] continued on Friday, with the company saying it had signed an agreement to sell its Asian operations to QBE Insurance Group Limited in a deal worth $56 million.
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