MGIC Investment Corporation Schedules 1st Quarter 2021 Earnings Call and Releases Monthly Operating Statistics
Individuals interested in joining by telephone should dial 1-866-834-4126 ten minutes before the conference call begins. The call is also being webcast and can be accessed via the company's investor website http://mtg.mgic.com under Newsroom. A replay of the webcast will be available on the company's website through June 6, 2021.
The Company also today issued selected operating statistics of the primary mortgage insurance 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 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. Notices of delinquency are typically reported to us when loans are two payments past due (for example, for March we report as a new delinquency any delinquent loan that missed its
The information concerning the percentage of loans in forbearance is based on the most recent information provided by Fannie Mae and Freddie Mac (the GSEs), as well as loan servicers, and we believe substantially all reported forbearances are related to COVID-19. While the forbearance information provided by the GSEs refers to delinquent loans in forbearance as of the prior month-end, the information provided by loan servicers may be more current.
January |
February |
March |
|
Beginning Primary Delinquent Inventory (# of loans) |
57,710 |
56,315 |
55,103 |
Plus: New Delinquency Notices |
4,810 |
4,330 |
3,871 |
Less: Cures |
6,094 |
5,446 |
6,088 |
Less: Paid Claims |
108 |
95 |
109 |
Less: Rescissions and Denials |
3 |
1 |
2 |
Ending Primary Delinquent Inventory (# of loans) |
56,315 |
55,103 |
52,775 |
% of New Delinquency Notices in Forbearance |
47% |
46% |
42% |
% of Primary Delinquency Inventory in Forbearance |
60% |
61% |
61% |
About MGIC
From time to time
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward looking statements. Forward looking statements consist of statements which relate to matters other than historical fact, including matters that inherently refer to future events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. More information about the risks, uncertainties and assumptions affecting the company can be found in the risk factors included as Exhibit 99 to our Annual Report on Form 10-K for the year ended
View original content:http://www.prnewswire.com/news-releases/mgic-investment-corporation-schedules-1st-quarter-2021-earnings-call-and-releases-monthly-operating-statistics-301263430.html
SOURCE
Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com