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MGIC Investment Corporation Releases Monthly Operating Statistics

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MGIC Investment Corporation Releases Monthly Operating Statistics

PR Newswire

MILWAUKEE, Aug. 8, 2018 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today issued an Operational Summary of its insurance subsidiaries for the month of July 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.



July 2018

July 2017

Change

Insurance in Force (billions)


$202.6

$188.6

7.4%

       Flow Only


$195.3

$180.0

8.5%






Beginning Primary Delinquent Inventory (# of loans) (1)


36,037

41,317

(12.8%)

Plus: New Delinquency Notices


4,538

5,199

(12.7%)

Less: Cures


4,834

4,469

8.2%

Less: Paids


482

750

(35.7%)

Less: Rescissions and Denials


26

20

30.0%

Ending Primary Delinquent Inventory (# of loans) (1)


35,233

41,277

(14.6%)





(1)

There were 7,828, 7,042, 5,958, and 5,903 loans in our Primary Delinquent Inventory as of June 30, 2018, July 31, 2018, June 30, 2017, and July 31, 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 July 31, 2018, MGIC had $202.6 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

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