MGIC Investment Corporation Schedules 1st Quarter 2016 Earnings Call and Releases Monthly Operating Statistics
Individuals interested in joining over the phone should dial 1-866-802-4321 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.
March 2015 |
March 2016 |
Change |
||
Insurance in Force (billions) |
$166.1 |
$175.0 |
5.4% |
|
Beginning Primary Delinquent Inventory (# of loans) |
75,471 |
60,242 |
(20.2%) |
|
Plus: New Delinquency Notices |
5,486 |
4,696 |
(14.4%) |
|
Less: Cures |
7,176 |
6,973 |
(2.8%) |
|
Less: Paids (including those charged to a deductible or captive reinsurer) |
1,473 |
1,189 |
(19.3%) |
|
Less: Rescissions and Denials |
72 |
48 |
(33.3%) |
|
Less: Items removed from inventory (1) |
- |
1,138 |
||
Ending Primary Delinquent Inventory (# of loans) |
72,236 |
55,590 |
(23.0%) |
(1) |
Includes 732 loans whose insurance was terminated by agreement to settle coverage on certain non-performing loans, and 406 loans for which we had previously suspended rescissions and that were included in a rescission settlement agreement. Both agreements became effective in the first quarter of 2016 and neither had a material financial impact in the quarter. |
About MGIC
MGIC (www.mgic.com), the principal subsidiary of
From time to time
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SOURCE
Investors, Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com, or Media, Katie Monfre, (414) 347-2650, katie_monfre@mgic.com