MILWAUKEE, Sept. 11, 2017 /PRNewswire/ -- MGIC
Investment Corporation (NYSE: MTG) today issued a August 2017 Operational Summary of the primary
mortgage insurance of its insurance subsidiaries. The summary is
also available on the company's website at http://mtg.mgic.com,
under Investor Information, Press Releases.
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.
|
|
August
2017
|
August
2016
|
Change
|
Insurance in Force
(billions)
|
|
$190.1
|
$179.1
|
6.1%
|
Flow
Only
|
|
$181.7
|
$169.4
|
7.2%
|
|
|
|
|
|
Beginning Primary
Delinquent Inventory (# of loans)
|
|
41,277
|
52,298
|
(21.1%)
|
Plus: New Delinquency
Notices
|
|
5,233
|
5,753
|
(9.0%)
|
Less:
Cures
|
|
4,594
|
5,276
|
(12.9%)
|
Less: Paids
(including those charged to a deductible or captive
reinsurer)
|
|
783
|
1,093
|
(28.4%)
|
Less: Rescissions and
Denials
|
|
30
|
40
|
(25.0%)
|
Less: Items
removed from inventory (1)
|
|
199
|
0
|
-
|
Ending Primary
Delinquent Inventory (# of loans)
|
|
40,904
|
51,642
|
(20.8%)
|
|
|
|
|
|
|
|
(1)
|
Includes loans whose
insurance was terminated by agreement to settle coverage on certain
non-performing loans. The agreement was effective in the third
quarter of 2017 and did not have a material financial impact
in either quarter
|
About MGIC
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment
Corporation, 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. At August 31, 2017 MGIC had $190.1 billion of primary insurance in force
covering over one million mortgages.
From time to time MGIC Investment Corporation releases important
information via postings on its corporate website, including
corrections of previous disclosures, 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.
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SOURCE MGIC Investment Corporation