WALNUT CREEK, Calif., March 26 /PRNewswire-FirstCall/ -- PMI Mortgage Insurance Co., a subsidiary of The PMI Group, Inc. (NYSE: PMI), today announced the formation of a homeownership preservation team led by John Jelavich, PMI's newly appointed Vice President of Homeownership Preservation Initiatives.

Under Jelavich's leadership, PMI will expand its National Accounts Servicing team whose primary responsibility will be to partner with lenders in the development of creative solutions to help Americans avoid foreclosure.

"PMI has a history of working with our customers to develop innovative solutions that preserve homeownership," said Gene Campion, Senior Vice President of Servicing Operations, Loss Mitigation and Claims. "We're confident that providing additional manpower and resources to aid our customers will ultimately help people who have the ability to make a reasonable mortgage payment preserve their home."

"It is important for borrowers who are in trouble to contact their lender and see if they have options other than foreclosure," said Jelavich. "The team will reach out to lenders and borrowers to try and bring both groups together and find creative solutions to save the borrower's home."

About 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 and assists financial institutions in reducing the capital they are required to hold against low down payment mortgages. For more information: http://www.pmi-us.com.

SOURCE PMI Mortgage Insurance Co.

CONTACT:
Media, Nate Purpura
of The PMI Group, Inc.,
+1-925-658-6247,
or
Investors, Bill Horning
of The PMI Group, Inc.,
+1-925-658-6193

Web site:
http://www.pmigroup.com
http://www.pmi-us.com