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 2019 |
May 2018 |
Change |
|||||||||
Insurance in force (billions) |
$ |
213.3 |
$ |
199.3 |
7.0 |
% |
|||||
Flow only |
$ |
207.0 |
$ |
191.8 |
7.9 |
% |
|||||
Beginning Primary Delinquent Inventory (# of loans) |
29,962 |
38,845 |
(22.9) |
% |
|||||||
Plus: New Delinquency Notices |
4,382 |
4,215 |
4.0 |
% |
|||||||
Less: Cures |
4,218 |
4,813 |
(12.4) |
% |
|||||||
Less: Paids |
372 |
517 |
(28.0) |
% |
|||||||
Less: Rescissions and Denials |
17 |
28 |
(39.3) |
% |
|||||||
Less: Items removed from inventory (1) |
— |
438 |
N/M |
||||||||
Ending Primary Delinquent Inventory (# of loans) (2) |
29,737 |
37,264 |
(20.2) |
% |
(1) |
Consists of loans whose insurance was terminated by agreement to settle coverage on certain non-performing loans. The agreement did not have a material financial impact. |
(2) |
May 2018 ending primary delinquent inventory was impacted by hurricanes Harvey, Irma, and Maria, which occurred in August - September 2017. The number of loans in ending primary delinquent inventory from geographical areas that the Federal Emergency Management Agency declared Individual Assistance Disaster Areas as a result of those hurricanes was 4,648 in May 2019, 8,690 in May 2018, and 6,032 in May 2017. |
About MGIC
Mortgage Guaranty Insurance Corporation "MGIC" (www.mgic.com), the principal subsidiary of
From time to time
View original content:http://www.prnewswire.com/news-releases/mgic-investment-corporation-releases-monthly-operating-statistics-300863896.html
SOURCE
Investor Contact: Michael J. Zimmerman, (414) 347-6596, mike_zimmerman@mgic.com