MILWAUKEE, Aug. 8, 2018 /PRNewswire/ -- MGIC Investment
Corporation (NYSE: MTG) today issued an Operational Summary of its
insurance subsidiaries for the month of July
2018 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.
|
|
July
2018
|
July
2017
|
Change
|
Insurance in Force
(billions)
|
|
$202.6
|
$188.6
|
7.4%
|
Flow
Only
|
|
$195.3
|
$180.0
|
8.5%
|
|
|
|
|
|
Beginning Primary
Delinquent Inventory (# of loans) (1)
|
|
36,037
|
41,317
|
(12.8%)
|
Plus: New Delinquency
Notices
|
|
4,538
|
5,199
|
(12.7%)
|
Less:
Cures
|
|
4,834
|
4,469
|
8.2%
|
Less:
Paids
|
|
482
|
750
|
(35.7%)
|
Less: Rescissions and
Denials
|
|
26
|
20
|
30.0%
|
Ending Primary
Delinquent Inventory (# of loans) (1)
|
|
35,233
|
41,277
|
(14.6%)
|
|
|
|
|
(1)
|
There were 7,828,
7,042, 5,958, and 5,903 loans in our Primary Delinquent Inventory
as of June 30, 2018, July 31, 2018, June 30, 2017, and July 31,
2017, respectively, that were located in the geographical areas
that the Federal Emergency Management Agency declared Individual
Assistance Disaster Areas as a result of hurricanes Harvey, Irma,
and Maria, which occurred in August – September 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 July 31, 2018, MGIC had $202.6 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.
View original
content:http://www.prnewswire.com/news-releases/mgic-investment-corporation-releases-monthly-operating-statistics-300693577.html
SOURCE MGIC Investment Corporation