WALNUT CREEK, Calif., July 28 /PRNewswire-FirstCall/ -- The PMI Foundation, the philanthropic arm of the PMI Group, Inc. (NYSE: PMI), today announced a $50,000 grant to the Consumer Credit Counseling Service (CCCS) of San Francisco. The grant will support continued funding for CCCS of San Francisco's successful nationwide mortgage default counseling program which has helped thousands of borrowers avoid foreclosure and retain their homes. It will also provide funding for the expansion of home buyer education, in both English and Spanish, to assist homebuyers in preparing for the long-term responsibilities and challenges of homeownership.
"This grant recognizes CCCS of San Francisco's important work in the area of home ownership preservation as well as the organization's innovative approach to the field of consumer financial education and the strength of their management team," said Steve Smith, Chairman and CEO, The PMI Group, Inc.
CCCS of San Francisco will utilize a portion of the funding to further the development of innovative educational vehicles, such as podcasts, videos and webinars focused on financial education critically important to the long- term success of homebuyers. According to Rick Harper, CCCS of San Francisco Director of Housing, "CCCS of San Francisco and PMI have a long-standing relationship spanning more than 15 years, devoted to providing financial education to families seeking to achieve for the first time, or keep, their dream of homeownership. This generous grant will enable us to create new programs, such as those utilizing online technologies, so that we might expand the reach of our home ownership programs."
PMI and CCCS of San Francisco share a goal of strengthening financial literacy and thereby better-preparing homebuyers to ultimately support sustainable homeownership and more stable communities. Our goal is to ensure borrowers understand the responsibilities and obligations of homeownership and will be more likely to succeed in the long term as homeowners.
To learn more about CCCS of San Francisco, please visit https://www.cccssf.org/
About The PMI Foundation
The PMI Foundation is a private nonprofit, 501c3 organization established by The PMI Group, Inc. Its goal is to help revitalize neighborhoods throughout the United States by fostering access to sustainable homeownership opportunities to both underserved borrowers and communities. The PMI Foundation does this by supporting nonprofit organizations with national reach that help develop the critical skills of financial literacy and informed decision making.
SOURCE The PMI Group, Inc.
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