MGIC Investment Corporation Schedules 4th Quarter 2018 Earnings Call and Releases Monthly Operating Statistics
Individuals interested in joining over the phone 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 website http://mtg.mgic.com under Newsroom. 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 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.
December 2018 |
December 2017 |
Change |
|||||||||
Insurance in force (billions) |
$ |
209.7 |
$ |
194.9 |
7.6% |
||||||
Flow only |
$ |
202.9 |
$ |
186.9 |
8.6% |
||||||
Beginning Primary Delinquent Inventory (# of loans) |
33,314 |
46,900 |
(29.0%) |
||||||||
Plus: New Delinquency Notices (1) |
4,752 |
6,098 |
(22.1%) |
||||||||
Less: Cures |
4,389 |
5,883 |
(25.4%) |
||||||||
Less: Paids |
428 |
526 |
(18.6%) |
||||||||
Less: Rescissions and Denials |
16 |
33 |
(51.5%) |
||||||||
Less: Items removed from inventory (2) |
335 |
— |
N/M |
||||||||
Ending Primary Delinquent Inventory (# of loans) |
32,898 |
46,556 |
(29.3%) |
(1) |
December 2017 new delinquency notices were impacted by hurricanes Harvey, Irma, and Maria, which occurred in August - September 2017. The number of new delinquency notices from geographical areas that the Federal Emergency Management Agency declared Individual Assistance Disaster Areas as a result of those hurricanes were 559 in December 2018, 1,375 in December 2017, and 698 in December 2016. |
(2) |
Consists of loans whose insurance was terminated by agreement to settle coverage on certain non-performing loans. The agreement did not have a material financial impact. |
About MGIC
Mortgage Guaranty Insurance Corporation "MGIC" (www.mgic.com), the principal subsidiary of
From time to time
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SOURCE
Investor Contact: Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com