PMI Mortgage Insurance Co. was a key subsidiary of The PMI Group, Inc., specializing in providing private mortgage insurance (MI). This insurance protected lenders and investors from losses if a borrower with a low down payment (typically less than 20%) defaulted on their mortgage. As a major player in the U.S. housing market, the company was severely impacted by the 2008 financial crisis and the subsequent wave of mortgage defaults. Due to its significant losses and inability to meet future obligations, the company was seized by state regulators in 2011, placed into runoff (meaning it stopped writing new policies), and its parent company ultimately filed for bankruptcy.

Founded in

United States