The PMI Group, Inc. Endorses New Foreclosure Prevention Initiative

WALNUT CREEK, Calif., Dec. 6 /PRNewswire-FirstCall/ -- The PMI Group, Inc.
(NYSE: PMI) announced support for the U.S. Department of the Treasury's new
plan to bring together mortgage industry participants, government agencies,
and non-profit organizations to reduce preventable foreclosures.
The plan, announced today, is designed to help homeowners facing
foreclosure transition into sustainable mortgages. It aims to accomplish this
by increasing efforts to reach and assist eligible borrowers facing rate
resets and streamlining refinancing and loan modification efforts.
"This is an unprecedented time in the mortgage industry, and industry
participants need to work together to create opportunities for borrowers to
stay in their homes by looking beyond traditional foreclosure prevention
models. The Treasury's plan complements other industry programs, such as
PMI's initiative to contact and help delinquent borrowers through a neutral,
third party counseling agency," said Steve Smith, Chairman and CEO of The PMI
Group, Inc. "As an industry, we should be the architects of a solution to this
crisis that offers qualified borrowers a chance for long-term success. That
means that we all need to play a role in the recovery."
PMI is a member of the HOPE NOW alliance, a cooperative effort among
mortgage industry participants to increase early outreach to borrowers before
their interest rates reset or their mortgages become delinquent. According to
Secretary of the Treasury Henry Paulson, 50 percent of foreclosures occur
without the borrower ever contacting their servicer or lender, and statistics
indicate that early outreach increases the chances of saving a borrower's
home.
"In addition to helping families facing foreclosure, we need to act now to
help families with a chance for successful homeownership before they get into
trouble and their loans become delinquent," Smith continued. "We need to
ensure that homeownership continues to be a cornerstone of American culture
and of the American dream."
The PMI Group, Inc.
The PMI Group, Inc. (NYSE: PMI), headquartered in Walnut Creek, CA,
provides innovative credit, capital, and risk transfer solutions that expand
homeownership and fund essential services for our customers and the
communities they serve around the world. Through its wholly and partially
owned subsidiaries, PMI offers residential mortgage insurance and credit
enhancement products, financial guaranty insurance, and financial guaranty
reinsurance. PMI has operations in Asia, Australia and New Zealand, Canada,
Europe, and the United States. For more information: http://www.pmigroup.com.
Cautionary Statement
Statements in this news release that are not historical facts or that
relate to future plans, events or performance are "forward-looking" statements
within the meaning of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements involve risks and uncertainties that
could cause PMI's actual results to differ materially from those expressed or
implied in this release. Risks and uncertainties related to PMI's business are
discussed in PMI's SEC filings, including its Form 10-K for the year ended
December 31, 2006 and Form 10-Q for the quarter ended September 30, 2007.
There can be no assurance that this program will have the expected results. We
undertake no obligation to update forward-looking statements.
SOURCE The PMI Group, Inc.

Investors, Bill Horning of The PMI Group, Inc., +1-925-658-6193, or Media,
Stephanie Corns of The PMI Group, Inc., +1-925-658-6357