Building Communities Without Fear: PMI Mortgage Insurance Joins With Habitat For Humanity to Build 'Cross-Community' Project in Northern Ireland

Apr 11, 2001, 01:00 ET from The PMI Group, Inc.

    SAN FRANCISCO, April 11 /PRNewswire/ -- PMI Mortgage Insurance Co., a
 leading private mortgage insurer, is supporting Habitat for Humanity's project
 to build affordable "cross-community" homes in Belfast with Protestant and
 Catholic families ultimately living side by side, while improving the housing
 stock in economically distressed neighborhoods in the city.
     Habitat calls the effort, "Building Communities without Fear," a small but
 significant step toward reconciliation that works with volunteers from both
 communities.  The project will focus on the neighborhoods of Ligoniel and
 Ballysillan in northern Belfast, areas long controlled by paramilitary forces.
 Both communities have long suffered severe social and economic deprivation
 over the years, resulting in long-term unemployment and a lack of inward
 investment.
     "The poverty that we face in Northern Ireland is not just physical, but
 spiritual -- the need for reconciliation," said Peter Farquharson,
 Executive Director of Habitat for Humanity Northern Ireland.
     "We have seen time and again as we insure mortgages that enable low and
 moderate income families to become homeowners, that homeownership strengthens
 families, and stronger families make stronger neighborhoods and communities,"
 said Roger Haughton, Chairman and CEO of PMI.  "That vital connection between
 families, homeownership and communities is a vital part of our business and
 the primary reason we are such strong supporters of Habitat.  We are excited
 and pleased that our support for Habitat for Humanity, Northern Ireland's
 Building Communities Without Fear project will help strengthen families,
 neighborhoods and communities in Belfast, Northern Ireland," he said.
     The Belfast program comes two months after PMI opened its first European
 office in Dublin as part of its plan to expand business throughout the
 European Community through its wholly owned indirect subsidiary,
 PMI Mortgage Insurance Company Limited.
     The effort is a European extension of PMI's ongoing programs, under which
 the company has partnered with Habitat to build homes in the United States and
 formed partnerships with community nonprofit organizations to create and
 rehabilitate homes for lower income families in inner city and rural
 communities.
     PMI will contribute $150,000 to Habitat for Humanity, Northern Ireland.
 This is as part of their successful campaign to raise 1 million pounds
 sterling towards their ongoing work in building homes in both communities to
 house Protestant and Catholic families.
     PMI is a vigorous champion of Habitat for Humanity; since 1993 PMI has
 sponsored ten houses and PMI employees have volunteered to participate in
 twenty building projects.  "As a company, we are dedicated to the Habitat
 cause because it reaches to the core of what we do:  provide homeownership
 opportunities," said Haughton.
     "PMI is honored to have the opportunity to be part of this effort."
 Haughton said.
     PMI is an advocate of affordable housing and supports a number of
 initiatives and organizations to foster greater access to affordable housing
 in the United States through its Emerging Markets initiative.  PMI works with
 such organizations as the Neighborhood Housing Services of America,
 Native American Indian Housing Council, The Hispanic Community Foundation, and
 the Spanish Speaking Unity Council.  PMI was the recipient of the
 1999 Social Compact Award for an innovative risk-sharing program with the
 Chickasaw Nation that permitted tribal members to purchase homes with a
 one-percent down payment.  The Navajo Partnership for Housing last month
 awarded PMI its "Platinum Award for Excellence in Corporate Giving" for
 helping create affordable housing for families in the Southwest.
 
     About PMI:  The PMI Group, Inc. (NYSE:   PMI), through its subsidiary,
 PMI Mortgage Insurance Co., is one of the largest private mortgage insurers in
 the United States.  Private mortgage insurance protects mortgage lenders
 against potential losses in the event of borrower default.  By covering
 default risk on residential first mortgage loans, mortgage insurance
 facilitates the sale of low-down-payment mortgages in the secondary market.
 In addition, private mortgage insurance expands homeownership opportunities by
 enabling borrowers to purchase homes with down payments of less than
 20 percent.
 
     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 involve risks
 and uncertainties that could cause PMI's actual results to differ materially
 from those expressed in this release.  Factors that could cause or contribute
 to such material differences are discussed in the Company's filings with the
 Securities and Exchange Commission, including its report on Form 10-K for the
 year ended December 31, 1999.
 
 

SOURCE The PMI Group, Inc.
    SAN FRANCISCO, April 11 /PRNewswire/ -- PMI Mortgage Insurance Co., a
 leading private mortgage insurer, is supporting Habitat for Humanity's project
 to build affordable "cross-community" homes in Belfast with Protestant and
 Catholic families ultimately living side by side, while improving the housing
 stock in economically distressed neighborhoods in the city.
     Habitat calls the effort, "Building Communities without Fear," a small but
 significant step toward reconciliation that works with volunteers from both
 communities.  The project will focus on the neighborhoods of Ligoniel and
 Ballysillan in northern Belfast, areas long controlled by paramilitary forces.
 Both communities have long suffered severe social and economic deprivation
 over the years, resulting in long-term unemployment and a lack of inward
 investment.
     "The poverty that we face in Northern Ireland is not just physical, but
 spiritual -- the need for reconciliation," said Peter Farquharson,
 Executive Director of Habitat for Humanity Northern Ireland.
     "We have seen time and again as we insure mortgages that enable low and
 moderate income families to become homeowners, that homeownership strengthens
 families, and stronger families make stronger neighborhoods and communities,"
 said Roger Haughton, Chairman and CEO of PMI.  "That vital connection between
 families, homeownership and communities is a vital part of our business and
 the primary reason we are such strong supporters of Habitat.  We are excited
 and pleased that our support for Habitat for Humanity, Northern Ireland's
 Building Communities Without Fear project will help strengthen families,
 neighborhoods and communities in Belfast, Northern Ireland," he said.
     The Belfast program comes two months after PMI opened its first European
 office in Dublin as part of its plan to expand business throughout the
 European Community through its wholly owned indirect subsidiary,
 PMI Mortgage Insurance Company Limited.
     The effort is a European extension of PMI's ongoing programs, under which
 the company has partnered with Habitat to build homes in the United States and
 formed partnerships with community nonprofit organizations to create and
 rehabilitate homes for lower income families in inner city and rural
 communities.
     PMI will contribute $150,000 to Habitat for Humanity, Northern Ireland.
 This is as part of their successful campaign to raise 1 million pounds
 sterling towards their ongoing work in building homes in both communities to
 house Protestant and Catholic families.
     PMI is a vigorous champion of Habitat for Humanity; since 1993 PMI has
 sponsored ten houses and PMI employees have volunteered to participate in
 twenty building projects.  "As a company, we are dedicated to the Habitat
 cause because it reaches to the core of what we do:  provide homeownership
 opportunities," said Haughton.
     "PMI is honored to have the opportunity to be part of this effort."
 Haughton said.
     PMI is an advocate of affordable housing and supports a number of
 initiatives and organizations to foster greater access to affordable housing
 in the United States through its Emerging Markets initiative.  PMI works with
 such organizations as the Neighborhood Housing Services of America,
 Native American Indian Housing Council, The Hispanic Community Foundation, and
 the Spanish Speaking Unity Council.  PMI was the recipient of the
 1999 Social Compact Award for an innovative risk-sharing program with the
 Chickasaw Nation that permitted tribal members to purchase homes with a
 one-percent down payment.  The Navajo Partnership for Housing last month
 awarded PMI its "Platinum Award for Excellence in Corporate Giving" for
 helping create affordable housing for families in the Southwest.
 
     About PMI:  The PMI Group, Inc. (NYSE:   PMI), through its subsidiary,
 PMI Mortgage Insurance Co., is one of the largest private mortgage insurers in
 the United States.  Private mortgage insurance protects mortgage lenders
 against potential losses in the event of borrower default.  By covering
 default risk on residential first mortgage loans, mortgage insurance
 facilitates the sale of low-down-payment mortgages in the secondary market.
 In addition, private mortgage insurance expands homeownership opportunities by
 enabling borrowers to purchase homes with down payments of less than
 20 percent.
 
     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 involve risks
 and uncertainties that could cause PMI's actual results to differ materially
 from those expressed in this release.  Factors that could cause or contribute
 to such material differences are discussed in the Company's filings with the
 Securities and Exchange Commission, including its report on Form 10-K for the
 year ended December 31, 1999.
 
 SOURCE  The PMI Group, Inc.

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