MGIC Investment Corporation Schedules 2nd Quarter 2016 Earnings Call and Releases Monthly Operating Statistics
Individuals interested in joining over the phone should dial 1-866-793-1343 ten minutes before the conference call begins. The call is also being webcast and can be accessed via the company's website http://mtg.mgic.com under Investor Information. A replay of the webcast will be available on the company's website through
MGIC also today issued an Operational Summary of its insurance subsidiaries for the month of
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.
June 2016 |
June 2015 |
Change |
||
Insurance in Force (billions) |
$177.5 |
$168.8 |
5.2% |
|
Flow Only |
$167.5 |
$157.5 |
6.3% |
|
Beginning Primary Delinquent Inventory (# of loans) |
52,990 |
68,224 |
(22.3%) |
|
Plus: New Delinquency Notices |
5,818 |
6,346 |
(8.3%) |
|
Less: Cures |
4,964 |
5,611 |
(11.5%) |
|
Less: Paids (including those charged to a deductible or captive reinsurer) |
1,093 |
1,417 |
(22.9%) |
|
Less: Rescissions and Denials (2) |
58 |
64 |
(9.4%) |
|
Less: Items removed from inventory |
135(1) |
1,121(2) |
(88.0%) |
|
Ending Primary Delinquent Inventory (# of loans) |
52,558 |
66,357 |
(20.8%) |
(1) |
Includes 135 loans whose insurance was terminated by agreement to settle coverage on certain non-performing loans. The agreement became effective in the second quarter of 2016 and did not have a material financial impact in the quarter. |
|
(2) |
Refer to our Form 10-Q filed with the Securities and Exchange Commission on August 10, 2015 for information about (a) loans removed from our inventory in June 2015 in relation to our Countrywide settlement agreement and (b) our prior suspension of certain rescissions and the number of rescissions suspended as of June 30, 2015. There were no rescissions suspended as of June 30, 2016. |
About MGIC
MGIC (www.mgic.com), the principal subsidiary of
From time to time
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SOURCE
Investor: Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com; or Media: Katie Monfre, (414) 347-2650, katie_monfre@mgic.com