MILWAUKEE, May 8, 2018 /PRNewswire/ -- MGIC Investment
Corporation (NYSE: MTG) today issued an Operational Summary of its
insurance subsidiaries for the month of April 2018 for their primary mortgage
insurance. The summary is also available on the company's
website under Newsroom, 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 accuracy of the data provided by
servicers, the number of business days in a month, transfers of
servicing between loan servicers, and whether all servicers have
provided the reports in a given month.
|
|
April
2018
|
April
2017
|
Change
|
Insurance in Force
(billions)
|
|
$198.5
|
$184.3
|
7.7%
|
Flow
Only
|
|
$190.9
|
$175.3
|
8.9%
|
|
|
|
|
|
Beginning Primary
Delinquent Inventory (# of loans) (1)
|
|
41,243
|
45,349
|
(9.1%)
|
Plus: New Delinquency
Notices
|
|
3,670
|
4,281
|
(14.3%)
|
Less:
Cures
|
|
5,583
|
5,661
|
(1.4%)
|
Less: Paids
(including those charged to a deductible or captive
reinsurer)
|
|
468
|
838
|
(44.2%)
|
Less: Rescissions and
Denials
|
|
17
|
28
|
(39.3%)
|
Ending Primary
Delinquent Inventory (# of loans) (1)
|
|
38,845
|
43,103
|
(9.9%)
|
|
(1)
|
There were 10,198,
9,429, 6,531, and 6,261 loans in our Primary Delinquent Inventory
as of March 31, 2018, April 30, 2018, March 31, 2017, and April 30,
2017, respectively, that were located in the geographical areas
that the Federal Emergency Management Agency declared Individual
Assistance Disaster Areas as a result of hurricanes Harvey, Irma,
and Maria, which occurred in August – September 2017.
|
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 April 30, 2018, MGIC had $198.5 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.
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SOURCE MGIC Investment Corporation