The PMI Group, Inc. is an international provider of credit enhancement products and lender services that promote homeownership and facilitate mortgage transactions in the capital markets. The Companys primary operating subsidiary, PMI Mortgage Insurance Co., is a United States residential mortgage insurer licensed in all 50 states, the District of Columbia and Puerto Rico. Through its wholly owned subsidiaries and unconsolidated strategic investments, the Company offers residential mortgage insurance and credit enhancement products in the United States and, internationally, residential lender services and financial guaranty reinsurance. In January 2003, the Company announced the formation of a wholly owned subsidiary, PMI Capital Corporation, to manage its international mortgage operations and unconsolidated strategic investments.