Getting Back to Basics…
In today’s market, the mortgage industry is getting back to basics. The fact is, high-LTV loans statistically represent a greater likelihood of default. And it’s a basic economic fact that everyone benefits when borrowers have some equity in their homes.
Strength and Stability
Despite the current environment, we continue to support your ability to facilitate affordable and sustainable homeownership for a wide range of borrowers. A proven leader in the MI industry, PMI has a solid capital standing and earns high financial ratings of AA for our claims-paying performance.
Our stability is demonstrated by the PMI Mortgage Insurance profile*:
- Prime loans (FICOs of 620 and above): 93.1% of primary risk in force
- Fixed-rate loans: 90.1% of primary risk in force
- PMI's risk in force is primarily comprised of loans for primary residences
- Average primary loan size: $161,200
- Less than A quality exposure (FICOs less than 620): Only 6.9% of primary risk in force
- Diversified geographic concentration: No more than 10.1% in any one U.S. state
As we face industry challenges together, we move forward by getting back to basics together--back to the fundamentals that allow us to help qualified borrowers achieve successful homeownership.
. . . because equity matters.
*As of 3/31/09
