Franklin Advantage, Inc.
31897 Del Obispo St, Suite 200 San Juan Capistrano CA, 92675
Need Mortgage Help? 800-314-(5626)

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.

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