Arch Capital Group is in the process of buying PMI.They say they will keep some of PMI employees. Arch Capital is a Bahamas base company.
"Arch said it expects the deal to be completed within 12 months. The transaction needs approvals from an Arizona court, insurance regulators, and government mortgage-finance firms Fannie Mae and Freddie Mac, Arch said in the statement."
It sounds like a sell NMIHZ was aproved by Fannie and Freddie but they are still in the grey market