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 (one servicer did not report new notices or cures for
February 2017 |
February 2016 |
Change |
||
Insurance in Force (billions) |
$182.9 |
$174.9 |
4.6% |
|
Flow Only |
$173.8 |
$164.6 |
5.6% |
|
Beginning Primary Delinquent Inventory (# of loans) |
49,904 |
62,774 |
(20.5%) |
|
Plus: New Delinquency Notices |
5,218 |
5,422 |
(3.8%) |
|
Less: Cures |
5,647 |
6,748 |
(16.3%) |
|
Less: Paids (including those charged to a deductible or captive reinsurer) |
822 |
1,120 |
(26.6%) |
|
Less: Rescissions and Denials (1) |
23 |
86 |
(73.3%) |
|
Less: Items removed from inventory (2) |
14 |
- |
- |
|
Ending Primary Delinquent Inventory (# of loans) |
48,616 |
60,242 |
(19.3%) |
(1) |
Refer to our Form 10-K filed with the Securities and Exchange Commission on February 26, 2016 for information about our prior suspension of certain rescissions and the number of rescissions suspended as of December 31, 2015. There were no rescissions suspended as of February 28, 2017. |
(2) |
Insurance on 14 loans was terminated by agreement to settle coverage on certain non-performing loans. |
About MGIC
MGIC (www.mgic.com), the principal subsidiary of
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SOURCE
Investors, Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com: Media, Katie Monfre, (414) 347-2650, katie_monfre@mgic.com