MILWAUKEE, Sept. 11, 2012 /PRNewswire/ -- Mortgage Guaranty
Insurance Corporation (MGIC), the principal subsidiary of MGIC
Investment Corporation (NYSE: MTG), today issued an Operational
Summary for the month of August 2012
for its primary mortgage insurance business. The
summary is also available on the company's website at
http://mtg.mgic.com, under Investor Information, Press
Releases.
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.
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August
2012
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Primary
New Insurance Written ($Billions)
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$2.5
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Beginning
Primary Delinquent Inventory (# of loans)
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153,137
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Plus: New
Notices
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11,209
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Less:
Cures
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9,883
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Less: Paids (including those charged to a
deductible or captive)
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3,782
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Less:
Rescissions and Denials (1)
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293
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Ending
Primary Delinquent Inventory (# of loans)
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150,388
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(1)
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Refer to
our Form 8-K filed with the Securities and Exchange Commission on
August 2, 2012, for information about our suspension of certain
rescissions and the number of rescissions suspended as of June 30,
2012.
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About MGIC
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment
Corporation, is the nation's largest private mortgage insurer as
measured by $166.7 billion primary
insurance in force covering 1.0 million mortgages as of
June 30, 2012. MGIC serves lenders
throughout the United States,
Puerto Rico, and other locations
helping families achieve homeownership sooner by making affordable
low-down-payment mortgages a reality.
From time to time MGIC Investment Corporation releases important
information via postings on its corporate website without making
any other disclosure and intends to continue to do so in the
future. Investors and other interested parties are encouraged to
enroll to receive automatic email alerts and Really Simple
Syndication (RSS) feeds regarding new postings. Enrollment
information can be found at http://mtg.mgic.com under Investor
Information.
SOURCE MGIC Investment Corporation