Item 1.01 Entry into a Material Definitive Agreement.

On November 9, 2009, The PMI Group, Inc. (the "Company") entered into Amendment Agreement No. 1 with the lenders under the Company's existing amended and restated revolving credit agreement (the "Credit Agreement"). The amendment, among other things, modifies the restriction on investments by the Company to permit the Company to contribute the capital stock of PMI Insurance Co. ("PIC") to PMI Mortgage Insurance Co. ("MIC") and provides for the release of the pledge of the stock of PIC previously granted to such lenders. Thereafter, the Company contributed all of the outstanding capital stock of PIC to MIC.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1 Amendment Agreement No. 1, dated as of November 9, 2009, to the Amended and Restated Revolving Credit Agreement, dated as of May 29, 2009, among the Company, the lenders referred to therein and Bank of America, N.A., as Administrative Agent ("Administrative Agent") and Amendment Agreement No. 1, dated as of November 9, 2009, to the Bank Facility Pledge Agreement, dated as of September 29, 2008, between the Company and the Administrative Agent.

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