US housing recovery in doubt Nov 21, 2009
Residential construction and property sales led the way out of the previous seven recessions going back to 1960, said David Berson, chief economist of PMI Group, the mortgage insurer in Walnut Creek, California. Mortgage applications for home purchases fell to a 12-year low last week and foreclosures rose to record highs in the third quarter, according to reports from the Mortgage Bankers Association. (Sydney Morning Herald -- Business)
Pending home sales index to be released Nov 2, 2009
-- The PMI Group Inc. releases third-quarter results. -- Labor Department releases employment data for October. (San Francisco Chronicle -- Business)
Housing Suffering Relapse Confronts Bernanke With Credit Still a Conundrum Sep 21, 2009
Residential construction and home sales led the way out of the previous seven going back to 1960, according to , chief economist of PMI Group, a mortgage insurer in Walnut Creek, California. Real-estate sales fuel consumer spending, which historically accounts for about 70 percent of gross domestic product, he said. (Bloomberg -- US)
Housing Data Point to Market Turnaround as Buyers Help Buoy U.S. Economy Aug 27, 2009
and home sales led the way out of the previous seven recessions going back to 1960, according to David Berson, chief economist of PMI Group, a mortgage insurer in Walnut Creek, California. Home resales gained strength an average four months before the end of a recession, single-family housing starts improved for seven months, and new-home sales grew for eight months. (Bloomberg -- US)
Buzz Kill: Data Dent Stocks Aug 6, 2009
Radian Group (RDN) surged more than 80% after the mortgage insurer shocked Wall Street with a second-quarter profit and revenue Encouraged by the Obama Administrations housing rescue program, Radian also lowered its 2009 claims forecast, lifting rivals MGIC Investment (MTG) and PMI Group (PMI). Devon Energy (DVN) saw its earnings plunge by 76% last quarter on lower commodity prices, but the oil and natural gas driller still easily beat analysts estimates with an adjusted-profit of 85 cents... (Fox News)
Defaults on Insured Mortgages Rise Aug 4, 2009
Trade group members include: American International Group s United Guaranty Corp., Genworth Financial Inc., MGIC Investment Corp., Old Republic International Corp., PMI Group Inc., and Radian Group Inc.. Source: Reuters News (07/31/2009). (Realtor Magazine Online)
Alcoa Quarterly Loss Is Narrower Than Forecast on Aluminium Output Cuts Jul 9, 2009
Home prices may fall in more than half of the largest U.S. cities through the first quarter of 2011 as unemployment and foreclosures rise, mortgage insurer PMI Group Inc. said yesterday. Thirty of the 50 biggest metropolitan areas have at least a 75 percent chance of lower prices through March 31, 2011, the Walnut Creek, California-based firm said in a report. (Bloomberg -- Canada)
Investor Report: PMI Group Risk List Jul 1, 2009
Title insurance giant PMI Group's quarterly metropolitan area risk list covers 381 markets, and ranks them according to the probability of real estate price declines during the next 24 months. The thinnest ice-where PMI forecasts further drops in values -- continues to be in once-booming, speculator-driven markets that haven't quite finished their downward cycle. (RealtyTimes)
The PMI Group, Inc. Announces Conference Call to Review Second Quarter 2009 Financial Results Jul 1, 2009
The PMI Group, Inc. logo. (PRNewsFoto/The PMI Group, Inc.) WALNUT CREEK, CA UNITED STATES ... June 30 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: ) will host a conference call to review second quarter 2009 financial results on Friday, August 7, 2009 at 9:00 a.m. PDT (12:00 p.m. EDT). (PR Newswire)
PMI to Offer Greater Support for Refinancing Jun 30, 2009
REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)
The PMI Group, Inc. Ratings Raised by Standard & Poor's Jun 3, 2009
The PMI Group, Inc. Ratings Raised by Standard s ... The PMI Group, Inc. Ratings Raised by Standard s ... The PMI Group, Inc. logo. (PR Newswire)
PMI Amended and Restated Credit Agreement Becomes Effective May 31, 2009
The PMI Group, Inc. logo. (PRNewsFoto/The PMI Group, Inc.) WALNUT CREEK, CA UNITED STATES ... May 29 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: ) (the "Company") today announced that it has satisfied all conditions precedent necessary for the Amended and Restated Credit Agreement (the "Amended Agreement") to become effective and replace the existing Revolving Credit Agreement in its entirety. (PR Newswire)
Genworth Files to Sell Shares in Canadian Mortgage Insurer in Public Offer May 30, 2009
U.S. mortgage insurers including No. 1 and PMI Group Inc. have raised capital by selling assets. Milwaukee-based MGIC divested its holding last year of Sherman Financial Group LLC, which invests in distressed consumer debt. (Bloomberg -- Canada)
PMI Shareholders Elect Directors; CEO L. Stephen Smith Re-Elected Chairman May 22, 2009
The PMI Group, Inc. logo. (PRNewsFoto/The PMI Group, Inc.) WALNUT CREEK, CA UNITED STATES ... May 21 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: ) (the Company) announced today that at the Company's Annual Meeting of Shareholders all nine director nominees were re-elected to the Board of Directors. (PR Newswire)
PMI Reaches Agreement With Lender Group on the Terms of an Amendment and Restatement of Revolving Credit Facility May 9, 2009
The PMI Group, Inc. logo. (PRNewsFoto/The PMI Group, Inc.) WALNUT CREEK, CA UNITED STATES ... May 8 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: ) (the "Company") today announced that it has reached an agreement with the lenders under its revolving credit facility on the terms and conditions of an Amended and Restated Credit Agreement (the "Amended Agreement") that would replace the existing credit facility agreement in its entirety. (PR Newswire)
Lenders Chase Short Sale Sellers May 5, 2009
A PMI Group Inc. spokesman says the mortgage insurer "primarily target[s] borrowers who are not experiencing hardship but those who simply elected to walk away from the property due to its decline in value.". Source: The Wall Street Journal, Ruth Simon (04/30/2009). (Realtor Magazine Online)
The top 200 companies Apr 20, 2009
Market capitalization is as of March 31. Here are the largest public companies in the nine-county Bay Area ranked by revenue during the most recent four quarters for which data were available. (San Francisco Chronicle)
PMI Expands Access to e-PMI(R) Ordering System Apr 18, 2009
The PMI Group, Inc. logo. (PRNewsFoto/The PMI Group, Inc.) WALNUT CREEK, CA UNITED STATES. (PR Newswire)
Ask AP: Pitched baseball speeds, grocery prices Mar 27, 2009
PMI Group Inc., one of the industry's biggest players, lost nearly $1. 9 billion in 2007 and 2008 combined. (San Francisco Chronicle -- Politics)
PMI Comments on Fitch's Ratings Action Mar 20, 2009
The PMI Group, Inc. logo. (PRNewsFoto/The PMI Group, Inc.) WALNUT CREEK, CA UNITED STATES ... March 19 /PRNewswire-FirstCall/ -- With respect to the ratings actions issued by Fitch Ratings today, The PMI Group, Inc. (NYSE: ) (the Company or PMI) notes that in December 2008 it requested a withdrawal of all Fitch ratings on the Company and its subsidiaries. (PR Newswire)
HOUSING: Banks struggle as mortgage insurers up claim denials Mar 1, 2009
PMI Group reported in December that the company paid more than 810 million for defaulting loans in 2008, up from 362 million in 2007. And the number of defaults on insured mortgages jumped last month to 106,000, according to data from the mortgage insurance association. (North County Times)
Standard & Poor's Announces Changes to U.S. Indices Feb 25, 2009
AECOM Technology Corp. (NYSE: ) will replace The PMI Group Inc. (NYSE: ) in the S&P MidCap 400. As of today's close of trading, Hovnanian and PMI Group had market capitalizations of $74 million and $64 million, respectively, whereas the minimum market cap needed to be admitted to the S&P MidCap 400 index is currently $750 million ... S&P 500 INDEX - March 3, 2009 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Hormel Foods Consumer Staples Packaged Foods & Meats Ventas Financials... (PR Newswire)
Managing Your Mortgage Modification Feb 12, 2009
The PMI Group, Inc. recently launched an the free Mortgage Options Assessment Tool on its web site. According to PMI, the tool "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.". (RealtyTimes)
