-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PWtHrhnKabfp28rlAAdIpgxFDMOFYy66D8U3BfUaJYdIhaBTeLP7CKXPplJ7TtlV QIsFQ+RW2ITqlY7nWxJ9XA== 0001299933-08-000733.txt : 20080211 0001299933-08-000733.hdr.sgml : 20080211 20080211104201 ACCESSION NUMBER: 0001299933-08-000733 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080208 ITEM INFORMATION: Other Events FILED AS OF DATE: 20080211 DATE AS OF CHANGE: 20080211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PMI GROUP INC CENTRAL INDEX KEY: 0000935724 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 943199675 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13664 FILM NUMBER: 08591565 BUSINESS ADDRESS: STREET 1: 3003 OAK ROAD CITY: WALNUT CREEK STATE: CA ZIP: 94597-2098 BUSINESS PHONE: 925-658-7878 MAIL ADDRESS: STREET 1: 3003 OAK ROAD CITY: WALNUT CREEK STATE: CA ZIP: 94597-2098 8-K 1 htm_25458.htm LIVE FILING The PMI Group, Inc. (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   February 8, 2008

The PMI Group, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 1-13664 94-3199675
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
PMI Plaza, 3003 Oak Road, Walnut Creek, California   94597
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   925-658-7878

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

As disclosed in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, our U.S. mortgage insurer, PMI Mortgage Insurance Co. ("PMI") initiated pricing and underwriting guideline changes in 2007 with respect to, among other loan products, loans with loan to value ratios in excess of 97.00% ("Above 97s"). These pricing and underwriting guideline changes were based upon PMI's review of its portfolio and in response to substantially higher demand for mortgage insurance coverage of Above 97s. As a result of these changes, the percentage of Above 97s in PMI’s new insurance written declined in the fourth quarter of 2007 to 21%, compared to approximately 32% of PMI's primary new insurance written for the full year of 2007.

Effective March 1, 2008, PMI will institute additional underwriting guideline changes which will, among other things, preclude future mortgage insurance coverage by PMI through its primary flow channel of Above 97s.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    The PMI Group, Inc.
          
February 8, 2008   By:   Donald P. Lofe, Jr.
       
        Name: Donald P. Lofe, Jr.
        Title: Executive Vice President and Chief Financial Officer
         
    The PMI Group, Inc.
          
February 8, 2008   By:   Thomas H. Jeter
       
        Name: Thomas H. Jeter
        Title: Senior Vice President, Chief Accounting Officer and Corporate Controller
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