MILWAUKEE, Feb. 8, 2017 /PRNewswire/ -- MGIC
Investment Corporation (NYSE: MTG) today issued a January 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 (we are aware that we are
missing one report for January 31,
2017).
|
|
January
2017
|
January
2016
|
Change
|
|
Insurance in Force
(billions)
|
|
$182.8
|
$174.9
|
4.5%
|
|
Flow
Only
|
|
$173.6
|
$164.4
|
5.6%
|
|
|
|
|
|
|
Beginning Primary
Delinquent Inventory (# of loans)
|
|
50,282
|
62,633
|
(19.7%)
|
|
Plus: New Delinquency
Notices
|
|
5,492
|
6,613
|
(17.0%)
|
|
Less:
Cures
|
|
4,959
|
5,332
|
(7.0%)
|
|
Less: Paids
(including those charged to a deductible or captive
reinsurer)
|
|
866
|
1,064
|
(18.6%)
|
|
Less: Rescissions and
Denials (1)
|
|
45
|
76
|
(40.8%)
|
|
Ending Primary
Delinquent Inventory (# of loans)
|
|
49,904
|
62,774
|
(20.5%)
|
|
|
|
(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 January
31, 2017.
|
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 January 31, 2017 MGIC had $182.8 billion of primary insurance in force
covering approximately 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/mgic-investment-corporation-releases-monthly-operating-statistics-300403798.html
SOURCE MGIC Investment Corporation