MILWAUKEE, Nov. 8, 2018 /PRNewswire/ -- MGIC Investment
Corporation (NYSE: MTG) today issued an Operational Summary of its
insurance subsidiaries for the month of October 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.
|
|
October
2018
|
October
2017
|
Change
|
Insurance in Force
(billions)
|
|
$207.5
|
$192.2
|
7.9%
|
Flow
Only
|
|
$200.5
|
$184.0
|
9.0%
|
|
|
|
|
|
Beginning Primary
Delinquent Inventory (# of loans)
|
|
33,398
|
41,235
|
(19.0%)
|
Plus: New Delinquency
Notices (1)
|
|
4,604
|
7,943
|
(42.0%)
|
Less:
Cures
|
|
4,154
|
4,680
|
(11.2%)
|
Less:
Paids
|
|
485
|
660
|
(26.5%)
|
Less: Rescissions and
Denials
|
|
27
|
22
|
22.7%
|
Ending Primary
Delinquent Inventory (# of loans) (1)
|
|
33,336
|
43,816
|
(23.9%)
|
|
|
(1)
|
October 2017 new
delinquency notices and ending primary delinquent inventory include
notices from 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
Mortgage Guaranty Insurance Corporation "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
October 31, 2018, MGIC had
$207.5 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, and via postings
on MGIC's website for information related to underwriting and
pricing, and intends to continue to do so in the future. Such
postings include corrections of previous disclosures, and may be
made without any other disclosure. 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 for MGIC Investment Corporation alerts can
be found at https://mtg.mgic.com/shareholder-services/email-alerts.
Enrollment information for MGIC alerts can be found
https://www.mgic.com/ClearRates/index.html.
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SOURCE MGIC Investment Corporation