MGIC Releases Monthly Operating Statistics
The information concerning new 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.
December 2012 |
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Primary New Insurance Written ($Billions) |
$2.2 |
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Beginning Primary Delinquent Inventory (# of loans) |
143,153 |
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Plus: New Notices |
10,314 |
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Less: Cures (1) |
10,150 |
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Less: Paids (including those charged to a deductible or captive) |
3,297 |
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Less: Rescissions and Denials (2) |
175 |
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Ending Primary Delinquent Inventory (# of loans) |
139,845 |
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(1) 941 loans were cured during December as a result of the aggregate loss limits on certain policies being reached. These policies are not related to the recently disclosed Freddie Mac settlement. |
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(2) Refer to our Form 10-Q filed with the Securities and Exchange Commission on November 9, 2012, for information about our suspension of certain rescissions and the number of rescissions suspended as of September 30, 2012. |
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MGIC (www.mgic.com), the principal subsidiary of
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Investors, Michael J. Zimmerman, +1-414-347-6596, mike_zimmerman@mgic.com; or Media, Katie Monfre, +1-414-347-2650, katie_monfre@mgic.com