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PMI Announces $7,000 Donation to Philadelphia Council for Community Advancement

PMI Announces $7,000 Donation to Philadelphia Council for Community Advancement

Published 09-06-01

Submitted by PMI Group, Inc.

PMI Mortgage Insurance Co. today announced that it had made a $7,000 donation to the Philadelphia Council for Community Advancement (PCCA). The donation is intended to support PCCA's work of providing comprehensive housing counseling, case management and technical
assistance to residents of Philadelphia and the surrounding counties.

"We are pleased to provide PCCA with assistance to their programs so that prospective homeowners can make the best financial decisions possible and avoid choices that are not to their advantage," said Dan Chatman, Vice President-Sales, PMI Eastern Division. "Home buying and obtaining a mortgage can be complicated. PCCA provides the tools for people to navigate through this process."

PCCA offers services to prospective homeowners that include borrower education on money management and credit repair, information on savings programs and guidance on how to avoid predatory lending. They also provide direction on foreclosure prevention and a program for seniors on the value and options of the reverse mortgage vehicle. In addition, PCCA works with the community in the construction of new homes and the rehabilitation of existing homes for low- and moderate-income families.

"Long ago we (PCCA) realized that real neighborhood revitalization takes place with the harmonious blend of homeownership, tenancy and helping families challenged by adversity retain their homes," said LaVerne Jones, Executive Director.

Founded in 1962, the Philadelphia Council for Community Advancement serves the City of Philadelphia and its suburban community residents with housing revitalization, development assistance and housing counseling assistance. Its mission is to facilitate the revitalization of neighborhoods in the region through the application of comprehensive housing and economic development strategies, in cooperation with local residents. PCCA works closely with public and private sector agencies to promote community stability through homeownership and saving homes from foreclosures as well as promoting quality housing counseling services. For more information contact PCCA at http://www.nelsononline.com/pcca.

PMI Mortgage Insurance Co., with headquarters in San Francisco, is one of the largest private mortgage insurers in the United States. In addition PMI Mortgage Insurance Co. and its subsidiaries, provide private mortgage insurance in Australia, New Zealand and the European Union, as well as mortgage guaranty reinsurance in Hong Kong. PMI together with its parent company, The PMI Group, Inc. (NYSE: PMI), and its corporate affiliates, is a leader in mortgage risk management technology, and provides various products and services for the home mortgage finance industry, as well as title insurance. This release can be accessed through the World Wide Web at http://www.pmigroup.com.

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PMI Group, Inc.

PMI Group, Inc.

For more than 30 years, PMI has combined its risk management expertise and financial strength to serve the evolving needs of our customers and the world’s financial markets. PMI's insurance products support the mortgage finance system by providing protection to lenders and investors around the globe in the event of borrower default. By protecting mortgage lenders and investors from credit losses, PMI helps to ensure mortgages are available to prospective homebuyers. Through its strategic investments in the financial guaranty industry, PMI supports the infrastructure on which homeownership depends, including transportation, schools, hospitals, and utilities.

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