The PMI Group, Inc. at Lehman Brothers 5th Annual Financial Services Conference - Final.

Original Source: FD (FAIR DISCLOSURE) WIRE

UNIDENTIFIED PARTICIPANT: As the sole representative of the mortgage insurance industry at our conference, it looks like you have a good interest here, Steve, so I'm happy to have the PMI Group presenting. Steve Smith is the Chairman and CEO, and Don Lofe is the EVP and CFO, and Bill Horning, represents Investor Relations. So I'd love to hear your comments, and, as I said, lots of interest in the sector.

STEPHEN SMITH, CHAIRMAN AND CEO, PMI GROUP: Welcome, everyone. I think I've already presented to half this audience already one-on-one, and so I'm hoping that I'll say exactly the same thing in this presentation as I did on all of the other one-on-ones.

Before we begin, thank you for you attendance, thank you for your interest in our company and the mortgage insurance business and also our other strategic investments. But before we begin, if everyone can please pay attention to the booklets and the company's Safe Harbor. We may be making forward-looking statements, as we have our presentation today.

I think you all know most of our story. We've been in business for over 35 years. We offer mortgage insurance, financial guaranty business, guarantees, credit default swaps around the world. Our mission is to expand home ownership and strengthen communities by delivering innovative solutions in the form of financial products worldwide to do three things -- reduce risk, lower costs, and expand market access for our customers and, again, we do that in the form of credit enhancements, in the form of mortgage insurance, in the form of financial guaranty, in the form of credit default swaps, and reinsurance for portfolios of mortgages, for mortgage-backed securities, for municipal finance obligations and also public finance obligations.