MILWAUKEE, Oct. 9, 2017 /PRNewswire/ -- MGIC Investment
Corporation (NYSE: MTG) has announced plans to release its
3rd quarter 2017 financial results before the market
opens on Wednesday, October 18,
2017. A conference call/webcast has been scheduled for
10:00 a.m. Eastern Time to discuss
the Company's results for the quarter ended September 30, 2017.
Individuals interested in joining over the phone should dial
1-844-231-8825 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 November 18, 2017, under Newsroom.
MGIC also today issued an Operational Summary of its insurance
subsidiaries for the month of September
2017 for their primary mortgage insurance. The summary
is also available on the company's website under Newsroom, 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.
|
|
September
2017
|
September
2016
|
Change
|
|
Insurance in Force
(billions)
|
|
$191.0
|
$180.1
|
6.0%
|
|
Flow
Only
|
|
$182.7
|
$170.5
|
7.1%
|
|
|
|
|
|
|
Beginning Primary
Delinquent Inventory (# of loans)
|
|
40,904
|
51,642
|
(20.8%)
|
|
Plus: New Delinquency
Notices
|
|
5,518
|
6,019
|
(8.3%)
|
|
Less:
Cures
|
|
4,483
|
5,173
|
(13.3%)
|
|
Less: Paids
(including those charged to a deductible or captive
reinsurer)
|
|
662
|
1,010
|
(34.5%)
|
|
Less: Rescissions and
Denials
|
|
32
|
45
|
(28.9%)
|
|
Less: Items
removed from inventory
(1)
|
|
10
|
0
|
|
|
Ending Primary
Delinquent Inventory (# of loans)
|
|
41,235
|
51,433
|
(19.8%)
|
|
|
|
(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 September 30, 2017 MGIC had $191.0 billion of primary insurance in force
covering more than 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