MGIC Investment Corporation Releases Monthly Operating Statistics
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.
May 2018 |
May 2017 |
Change |
||
Insurance in Force (billions) |
$199.3 |
$185.5 |
7.4% |
|
Flow Only |
$191.8 |
$176.7 |
8.5% |
|
Beginning Primary Delinquent Inventory (# of loans) (1) |
38,845 |
43,103 |
(9.9%) |
|
Plus: New Delinquency Notices |
4,215 |
5,023 |
(16.1%) |
|
Less: Cures |
4,813 |
4,479 |
7.5% |
|
Less: Paids (including those charged to a deductible or captive reinsurer) |
517 |
874 |
(40.8%) |
|
Less: Rescissions and Denials |
28 |
38 |
(26.3%) |
|
Less: Items removed from inventory (2) |
438 |
1,083 |
(59.6%) |
|
Ending Primary Delinquent Inventory (# of loans) (1) |
37,264 |
41,652 |
(10.5%) |
(1) |
There were 9,429, 8,690, 6,261, and 6,032 loans in our Primary Delinquent Inventory as of April 30, 2018, May 31, 2018, April 30, 2017, and May 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. |
(2) |
Includes loans whose insurance was terminated by agreement to settle coverage on certain non-performing loans. The agreements were effective in the second quarter of 2018 and 2017 and did not have a material financial impact in either quarter. |
About MGIC
MGIC (www.mgic.com), the principal subsidiary of
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SOURCE
Investor Contact: Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com