PMI Canada to Enter Canada's Mortgage-Backed Securities Market

    TORONTO, Nov. 15 /CNW/ -- PMI Mortgage Insurance Company Canada (PMI
Canada), a subsidiary of The PMI Group, Inc. (NYSE:   PMI), has received
approval from Canada Mortgage and Housing Corporation (CMHC) to participate in
Canada's mortgage-backed securities market.
    "Approval into this program allows PMI Canada to offer another dimension
of value to our lender customers," said Janet Martin, President and CEO of PMI
Canada. "Through PMI Canada lenders can access the largest securitization
program in the country."
    Receiving approval as a private mortgage insurer under the National
Housing Act Mortgage-Backed Securities (NHA MBS) program means that PMI
Canada's lending partners are able to securitize PMI Canada-insured loans and
effectively support capital and liquidity management activities through this
capital markets tool. PMI Canada will be included in the December list of
Canada Mortgage Bonds -- the largest mortgage-backed securities market in
    "Admittance to the NHA MBS program allows lenders of all sizes to access
capital at the same cost. This helps to increase competition within the
marketplace while establishing a level playing field throughout the mortgage
insurance industry," said Martin. "Increased competition supports a stronger
marketplace and more choice for Canadians seeking mortgage insurance."
    "As an independent player in the marketplace, PMI Canada is now even
better equipped to help more Canadians realize the dream of homeownership
sooner," adds Martin.
    About PMI Canada
    PMI Mortgage Insurance Company Canada (PMI Canada), a subsidiary of The
PMI Group, Inc. (NYSE:  PMI), serves the needs of residential mortgage lenders
and investors in Canada. PMI Canada offers loan-level primary mortgage
insurance for residential mortgages as well as portfolio insurance, which is
mortgage insurance applied to a specific group of loans. PMI's products
protect lenders and investors against losses associated with borrower default
on residential mortgage loans. PMI Canada is rated AA by Dominion Bond Rating
Service. For more information:
    Cautionary Statement:  Statements in this 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. Many factors could cause actual results and
developments to differ materially from those expressed or implied by
forward-looking statements, including changes in business and other
conditions, including general market conditions in the United States and
Canada.  Risks and uncertainties are discussed in PMI's SEC filings, including
its Form 10-K for the year ended December 31, 2006 and its Form 10-Q for the
quarter ended September 30, 2007. PMI undertakes no obligation to update
forward-looking statements.

For further information:

For further information: Investors, Bill Horning of The PMI Group, Inc.,
 +1-925-658-6193, or Media - Canada, Caroline Spivak, of Fleishman Hillard, 
+1-416-645-8185, or Media - US, Meredith Heighington of Fleishman Hillard, 
+1-202-828-9179 Web Site:        

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