About the Author
Moe Bedard is a leading expert and trusted authority in regards to loan workouts and loan modifications. Moe is the founder and President of Loan Safe Solutions, LoanSafe.org and the main contributor to LoanWorkout.org. He has blogged on this subject more than any other person on earth and has personally been involved in over 300 loan workouts and mortgage audits.
PMI Streamlines Loan Modification Process and Helps More Americans Save Their Homes
PMI Mortgage Insurance Co., the U.S. subsidiary of The PMI Group, Inc. (NYSE: PMI), today announced that it has issued new guidelines for modification of insured loans that will help more distressed borrowers save their homes. The new guidelines define the criteria for loans insured by PMI that qualify for modifications, and delegates the authority to modify the terms of these eligible loans directly to loan servicing companies. These new guidelines are applicable to all delinquent loans insured by PMI.
The new guidelines can be accessed online at http://www.pmi-us.com/servicers
“Our servicing partners are working hard to modify qualified loans as quickly as possible,” said John Jelavich, PMI’s Vice President of Homeownership Preservation Initiatives. “This expansion of our servicing partners’ delegated authority to modify loans will expedite the loan modification process and assist our servicers’ efforts to keep more borrowers in their homes.”
About PMI Mortgage Insurance Co.
PMI Mortgage Insurance Co. (PMI US), a subsidiary of The PMI Group, Inc. (NYSE: PMI), provides residential mortgage insurance to mortgage lenders, capital market participants, and investors throughout the United States. PMI US is incorporated in Arizona, headquartered in Walnut Creek, CA, and licensed in all 50 states, the District of Columbia, Puerto Rico, Guam, and the Virgin Islands. By mitigating default risk, residential mortgage insurance expands home ownership opportunities and assists financial institutions in reducing the capital they are required to hold against low down payment mortgages. PMI US is rated AA by Standard and Poor’s, Aa2 by Moody’s, and AA by Fitch. For more information: http://www.pmi-us.com.
Cautionary Statement: Statements in this press release that are not historical facts or that relate to future plans, events or performance are ‘forward-looking’ statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, PMI’s U.S. Market Risk Index, Affordability Index, and any related discussion, and statements relating to future economic and housing market conditions. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to, the following factors: changes in economic conditions, economic recession or slowdowns, adverse changes in consumer confidence, declining housing values, higher unemployment, deteriorating borrower credit, changes in interest rates, or a combination of these factors. Readers are cautioned that any statements with respect to future economic and housing market conditions are based upon current economic conditions and, therefore, are inherently uncertain and highly subject to the changes in the factors enumerated above. Other risk and uncertainties are discussed in the Company’s filings with the Securities and Exchange Commission, including our report on Form 10-K for the year ended December 31, 2007.
SOURCE PMI Mortgage Insurance Co.
/CONTACT: Media, Nate Purpura of The PMI Group, Inc., +1-925-658-6247, or Investors, Bill Horning of The PMI Group, Inc., +1-925-658-6193
Web site: http://www.pmi-us.com
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Did they change the terms of your loan to an arm? This is too risky 
How about also arresting this Countrywide employee, Cheaters Among Us, Sue Barry, http://reno.broowaha.com/article.php?id=3415.Sue Barry has been a loan officer and ... 
May 14th, 2008 at 3:54 pm
[...] PMI Streamlines Loan Modification Process and Helps More Americans Save Their Homes [...]
May 18th, 2008 at 2:16 pm
As I read the quotes from Thomas Jefferson I get chills. What happened to our once strongly independent and self-reliant nation. One which was founded on the belief that the power should be with the people? When are we going to wake up to the reality that while we slumber the giant has taken David by the throat and is choking the very life out of him! The govenment was created for the people and not the other way around… Hello! We are suppose to be running the government. That is how it was set up by our founding fathers. If you doubt it, then I suggest you research our true HISTORY, and not the garbage they are teaching our children today. Reread, starting with HISTORY 101.
Melena