Almega Group of Companies, Financial Planning Consultants, Plano, TX
Phone: 972-964-5100

Find Us on Social Media »

Almega Mortgage

2301 Ohio Drive, Ste 138

Plano, TX  75093

What is the History of Private Mortgage Insurance (PMI)?

The Private Mortgage Insurance industry originated in the 1950's with the first large carrier, Mortgage Guaranty Insurance Corporation (MGIC). They were referred to as "magic" as these early PMI methods were deemed to "magically" assist in getting lender approval on otherwise unacceptable loan packages. Today there are 8 PMI underwriting companies in the United States.