MGIC Investment Corporation Releases Monthly Operating Statistics
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.
November 2017
|
November 2016
|
Change
|
||
Insurance in Force (billions) |
$193.5 |
$181.3 |
6.7% |
|
Flow Only |
$185.3 |
$171.9 |
7.8% |
|
Beginning Primary Delinquent Inventory (# of loans) |
43,816
|
50,612 |
(13.4%) |
|
Plus: New Delinquency Notices – Non-Hurricane Impacted Areas (1) |
4,350
|
4,953 |
(12.2%) |
|
Plus: New Delinquency Notices - Hurricane Impacted Areas (1) |
4,525
|
633 |
614.8% |
|
Less: Cures |
5,149
|
5,063 |
1.7% |
|
Less: Paids (including those charged to a deductible or captive reinsurer) |
617
|
944 |
(34.6%) |
|
Less: Rescissions and Denials |
25
|
55 |
(54.5%) |
|
Ending Primary Delinquent Inventory (# of loans) |
46,900 |
50,136 |
(6.5%) |
(1) Hurricane impacted areas are locations that the
- Third party reports that indicate the extent of flooding in the hurricane-affected areas may be understated.
- Home values in hurricane-affected areas may decrease at the time claims are filed from their current levels thereby adversely affecting our ability to mitigate loss.
- Hurricane-affected areas may experience deteriorating economic conditions resulting in more borrowers defaulting on their loans in the future (or failing to cure existing defaults) than we currently expect.
- If an insured contests our claim denial or curtailment, there can be no assurance we will prevail. We describe how claims under our policy are affected by damage to the borrower's home in our Current Report on Form 8-K filed with the
SEC onSeptember 14, 2017 .
About MGIC
MGIC (www.mgic.com), the principal subsidiary of
From time to time
View original content:http://www.prnewswire.com/news-releases/mgic-investment-corporation-releases-monthly-operating-statistics-300568773.html
SOURCE
Investor Contact: Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com