PMI Announces Model Servicer Program

WALNUT CREEK, Calif., June 16, 2011 /PRNewswire/ -- The PMI Group, Inc.'s (NYSE: PMI) principal operating subsidiary, PMI Mortgage Insurance Co., announced the launch of its MODEL Servicer Program designed to recognize and reward high-performance mortgage servicers.

"Since the beginning of the housing crisis, PMI has seen that the use of certain mortgage servicing best practices plays a central role in maximizing the level of home retention and achieving positive results for borrowers, communities and mortgage investors. PMI believes servicers that have demonstrated effective use of these best practices deserve recognition for the positive impact they have in preserving homeownership in communities nationwide," said Chris Hovey, PMI's Senior Vice President, Servicing Operations and Loss Management.

"Our new MODEL Servicer Program is designed to recognize best-in-class servicers for the work they're doing to prevent foreclosures," he added.  "These servicers will receive multiple benefits to reward their excellent performance in sustaining homeownership."

In order to be eligible for the program, servicers must exhibit superior foreclosure prevention results on PMI's "Servicer Scorecard."  In addition, they will be asked to affirm that their operations substantially adhere to industry best practices as outlined in PMI's "Best Practice Principles," which were developed in collaboration with mortgage servicing industry leaders.

An overview of the MODEL Servicer Program eligibility process and a copy of PMI's "Best Practice Principles" can be found at www.pmi-us.com/model.

About PMI Mortgage Insurance Co.

PMI Mortgage Insurance Co. (NYSE: PMI) is headquartered in Walnut Creek, CA and provides credit enhancement solutions that expand homeownership while supporting our customers and the communities they serve. Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products. For more information: www.pmi-us.com.

SOURCE The PMI Group, Inc.

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