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MGIC Investment Corporation Releases Monthly Operating Statistics

Dec 10, 2018

MILWAUKEE, Dec. 10, 2018 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of its insurance subsidiaries for the month of November 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.

November 2018

November 2017

Change








Insurance in force (billions)

$

208.4

$

193.5

7.7%

Flow only

$

201.4

$

185.3

8.7%








Beginning Primary Delinquent Inventory (# of loans)

33,336

43,816

(23.9%)

Plus: New Delinquency Notices (1)

4,741

8,875

(46.6%)

Less: Cures

4,348

5,149

(15.6%)

Less: Paids

391

617

(36.6%)

Less: Rescissions and Denials

24

25

(4.0%)

Ending Primary Delinquent Inventory (# of loans)

33,314

46,900

(29.0%)


(1)

November 2017 new delinquency notices were impacted by hurricanes Harvey, Irma, and Maria, which occurred in August - September 2017. The number of new delinquency notices from geographical areas that the Federal Emergency Management Agency declared Individual Assistance Disaster Areas as a result of those hurricanes were 541 in 2018, 4,525 in 2017, and 633 in 2016.

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 November 30, 2018, MGIC had $208.4 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.

Cision View original content:http://www.prnewswire.com/news-releases/mgic-investment-corporation-releases-monthly-operating-statistics-300761630.html

SOURCE MGIC Investment Corporation

Investors, Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com