PMI Seeks to Enter Canadian Market

PMI Mortgage Insurance Co., Walnut Creek, Calif., has filed an application with Canada's Office of the Superintendent of Financial Institutions to be allowed to sell mortgage insurance in that country.PMI already offers mortgage insurance products outside the United States in such places as Hong Kong, Australia, New Zealand, and Europe (through offices in Ireland and the United Kingdom). Genworth is a U.S.-based competitor that offers mortgage insurance in Canada. As in the United States, there is also a government product offered through Canada Mortgage and Housing Corp.