MGIC Investment Corporation Releases Monthly Operating Statistics

MILWAUKEE, Sept. 9, 2016 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued a August 2016 Operational Summary of the primary mortgage insurance of its insurance subsidiaries. The summary is also available on the company's website at http://mtg.mgic.com, under Investor Information, 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 number of business days in a month, and by transfers of servicing between loan servicers.

		August 2016	August 2015	Change
Insurance in Force (billions)		$179.1	$171.2	4.6%
Flow Only		$169.4	$160.2	5.7%
Beginning Primary Delinquent Inventory (# of loans)		52,298	66,121	(20.9%)
Plus: New Delinquency Notices		5,753	6,242	(7.8%)
Less: Cures		5,276	6,212	(15.1%)
Less: Paids (including those charged to a deductible or captive reinsurer)		1,093	1,279	(14.5%)
Less: Rescissions and Denials (1)		40	67	(40.3%)
Ending Primary Delinquent Inventory (# of loans)		51,642	64,805	(20.3%)

	(1)	Refer to our Form 10-Q filed with the Securities and Exchange Commission on August 10, 2015 for information about our prior suspension of certain rescissions and the number of rescissions suspended as of June 30, 2015.  There were no rescissions suspended as of August 31, 2016.

About MGIC

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 August 31, 2016, MGIC had $179.1 billion of primary insurance in force covering approximately one million mortgages.

From time to time MGIC Investment Corporation releases important information via postings on its corporate website, including corrections of previous disclosures, 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.

 

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SOURCE MGIC Investment Corporation

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