PMI Mortgage Insurance, a subsidiary of The PMI Group, has formed its new homeownership preservation team led by John Jelavich, PMI's newly appointed vice president of homeownership preservation initiatives.

Under Mr Jelavich’s leadership, PMI will expand its national accounts servicing team whose primary responsibility will be to partner with lenders in the development of creative solutions to help Americans avoid foreclosure.

Gene Campion, senior vice president of servicing operations for loss mitigation and claims business at PMI, said: We’re confident that providing additional manpower and resources to aid our customers will ultimately help people who have the ability to make a reasonable mortgage payment preserve their home.