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 August 22, 2007

An Increasing number of Borrowers Opt for Mortgage Insurance
The PMI Group, Inc. a provider of residential mortgage insurance has seen an increase in demand for mortgage insurance, mostly from borrowers that make down payments of 5% or less on their home purchases.
David Katlov, president of the company states that due to tax deductibility, and the loss of popularity of alternative loan products, mortgage insurance is experiencing renewed interest from borrowers.

The PMI portfolio is mainly focused on modest-sized loans to families and individuals who are buying homes that they intend to live in.

The average policy holder has an average credit score of 620 and higher and takes out an average loan of $148,700.

Policies issued in the State of Florida account for 10.8% of the company's total portfolio, next is California with 7.3% then Texas with 7.1%.

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