MILWAUKEE, Jan. 10, 2017 /PRNewswire/ -- MGIC
Investment Corporation (NYSE: MTG) has announced plans to release
its 4th quarter 2016 financial results before the market opens on
Thursday, January 19, 2017. A
conference call/webcast has been scheduled for 10:00 a.m. Eastern Time to discuss the Company's
results for the quarter ended December 31,
2016.
Individuals interested in joining over the phone should dial
(844) 656-4450 ten minutes before the conference call begins and
provide the operator with the conference ID number 49691161. The
call is also being webcast and can be accessed via the company's
website http://mtg.mgic.com under Newsroom. A replay of the webcast
will be available on the company's website through February 19, 2017, under Newsroom.
MGIC also today issued an Operational Summary of its insurance
subsidiaries for the month of December
2016 for their primary mortgage insurance. The summary
is also available on the company's website under Investor
Information, Press Releases.
The information concerning new delinquency notices and cures is
compiled from reports received from loan servicers. The level of
new notice and cure activity reported in a particular month can be
influenced by, among other things, the date on which a servicer
generates its report, the number of business days in a month, and
by transfers of servicing between loan servicers.
|
|
December
2016
|
December
2015
|
Change
|
|
Insurance in Force
(billions)
|
|
$182.0
|
$174.5
|
4.3%
|
|
Flow
Only
|
|
$172.8
|
$164.0
|
5.3%
|
|
|
|
|
|
|
Beginning Primary
Delinquent Inventory (# of loans)
|
|
50,136
|
62,445
|
(19.7%)
|
|
Plus: New Delinquency
Notices
|
|
5,911
|
6,597
|
(10.4%)
|
|
Less:
Cures
|
|
4,869
|
5,258
|
(7.4%)
|
|
Less: Paids
(including those charged to a deductible or captive
reinsurer)
|
|
838
|
1,070
|
(21.7%)
|
|
Less: Rescissions and
Denials (1)
|
|
58
|
81
|
(28.4%)
|
|
Ending Primary
Delinquent Inventory (# of loans)
|
|
50,282
|
62,633
|
(19.7%)
|
|
|
|
(1)
|
Refer to our Form
10-K filed with the Securities and Exchange Commission on February
26, 2016 for information about our prior suspension of certain
rescissions and the number of rescissions suspended as of December
31, 2015. There were no rescissions suspended as of December
31, 2016.
|
About MGIC
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment
Corporation, serves lenders throughout the United States, Puerto Rico, and other locations helping
families achieve homeownership sooner by making affordable
low-down-payment mortgages a reality. At December 31, 2016, MGIC had $182.0 billion of primary insurance in force
covering approximately one million mortgages.
From time to time MGIC Investment Corporation releases important
information via postings on its corporate website, including
corrections of previous disclosures, without making any other
disclosure and intends to continue to do so in the future.
Investors and other interested parties are encouraged to enroll to
receive automatic email alerts and Really Simple Syndication (RSS)
feeds regarding new postings. Enrollment information can be found
at http://mtg.mgic.com under Investor Information.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/mgic-investment-corporation-schedules-4th-quarter-2016-earnings-call-and-releases-monthly-operating-statistics-300388023.html
SOURCE MGIC Investment Corporation