PMI Expands Sales Force in Four Regions

WALNUT CREEK, Calif., July 7 /PRNewswire-FirstCall/ -- The PMI Mortgage Insurance Co., the primary operating subsidiary of The PMI Group, Inc. (NYSE: PMI), announced today that it is expanding its sales staff nationwide, adding sales executives to four key regions in response to improving market conditions and demand for PMI's services. "We've continued to write new policies throughout the economic downturn," explained Pete Pannes, Senior Vice President, Field Sales and National Accounts.  "With the market stabilization, we're seeing increased activity and demand of our insurance coverage and are taking steps to ensure we continue to provide best in class service to our clients."

The four new sales executives are:

• Brian Rowland, joins PMI with more than 15 years of industry experience, including 12 years with CIT Group, as well as various management positions for the correspondent lending divisions of Oak Street Mortgage, Aegis Mortgage Corp. and Wells Fargo. His experience includes underwriting, operations management, sales and sales management. Mr. Rowland is a graduate of the University of Oklahoma and will cover Kansas, Oklahoma, Western Missouri and Northwestern Arkansas and report to, Area Sales Manager Michael Neiman.
• Dave McGill, joins PMI with 10 years of sales experience in the Utah mortgage market. He worked most recently at Wells Fargo as an Account Executive and, prior to Wells, as an Account Executive at CitiMortgage, supporting Utah, Idaho, Wyoming and Montana.  Mr. McGill is a graduate of Brigham Young University. He will cover Utah and Northeast Nevada and report to Area Sales Manager Kim Brewer .
• Dave Stephan, joins PMI with 22 years of experience in the mortgage industry, including banking, correspondent/wholesale lending and credit. Most recently, he was a National Account Manager for a mortgage software development company.  Mr. Stephan is a graduate of the University of Wisconsin at Eau Claire.   He will cover Wisconsin and upper Michigan and report to Area Sales Manager Kevin McBride .  
• Dan Putney, joins PMI with more than 14 years of sales and sales management experience, including 10 in the mortgage industry. He has held positions as VP, Area Sales Manager, Wholesale and Correspondent Account Executive for First National Bank of Arizona.  Mr. Putney is a graduate of St. Bonaventure University and will report to Maureen Kiniry Area Sales Manager, and cover Upstate New York.

Pannes added, "These four professionals add depth to our already formidable sales organization and making this commitment now indicates our confidence in both our business and the market."

About PMI Mortgage Insurance Co.

The PMI Mortgage Insurance Co., the primary operating subsidiary of the PMI Group, Inc. (NYSE: PMI), is headquartered in Walnut Creek, CA and provides credit enhancement solutions that expand homeownership while supporting our customers and the communities they serve. Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products. For more information: 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 involve risks and uncertainties, including those related to MIC's future risk to capital ratio and minimum policyholders' position.  Risks and uncertainties related to PMI and its business are discussed in our SEC filings, including in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2009, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2010. We undertake no obligation to update forward-looking statements.

SOURCE PMI Mortgage Insurance Co.