PMI Asia Unveils 95% LTV MI Product

Published July 29, 2004, 2:00 p.m. EDT

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Updated July 29, 2004, 2:00 p.m. EDT

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PMI Asia, an affiliate of The PMI Group, Walnut Creek, Calif., has announced, in conjunction with Hong Kong Mortgage Corp., the introduction of a new 95% loan-to-value mortgage insurance product to Hong Kong lenders.The product is an expansion of PMI Asia's 90% LTV mortgage guaranty reinsurance coverage. The company said the new product will enable Hong Kong lenders to be more competitive and improve borrower affordability. Five years ago, PMI Asia became the first U.S. mortgage insurer to do business in Hong Kong, according to the company.

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