MGIC Investment Corp. : MGIC Releases Monthly Operating Statistics
06/08/2012| 07:05am US/Eastern
MILWAUKEE, June 8, 2012 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), today issued an Operational Summary for the month of May 2012 for its primary mortgage insurance business. The summary is also available on the company's website at http://mtg.mgic.com, under Investor Information, Press Releases.
The information concerning new 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 number of business days in a month, and by transfers of servicing between loan servicers.
Primary New Insurance Written
Beginning Primary Delinquent Inventory
(# of loans) 156,698
Plus: New Notices 10,907
Less: Cures 8,537
Less: Paids (including those charged
to a deductible or captive) 3,801
Less: Rescissions and Denials (1) 294
Ending Primary Delinquent Inventory (#
of loans) 154,973
(1) Refer to our Form 8-K filed with the Securities and
Exchange Commission on April 23, 2012, for information
about our suspension of certain rescissions and the number
of rescissions suspended as of March 31, 2012.
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by $169.0 billion primary insurance in force covering 1.1 million mortgages as of March 31, 2012. MGIC 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.
From time to time MGIC Investment Corporation releases important information via postings on its corporate website 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.
SOURCE MGIC Investment Corporation