MILWAUKEE, April 4, 2013 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of its insurance subsidiaries for the month of March 2013 for their primary mortgage insurance. 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.
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March 2013
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Primary New Insurance Written (Billions)
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$2.4
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Beginning Primary Delinquent Inventory (# of loans)
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133,125
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Plus: New Notices
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7,695
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Less: Cures
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10,963
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Less: Paids (including those charged to a deductible or captive)
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3,090
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Less: Rescissions and Denials (1)
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157
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Ending Primary Delinquent Inventory (# of loans)
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126,610
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(1)
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Refer to our Form 10-K filed with the Securities and Exchange Commission on March 1, 2013, for information about our suspension of certain rescissions and the number of rescissions suspended as of December 31, 2012.
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Additionally MTG announced plans to release its 1st quarter 2013 financial results before the market opens on Tuesday, April 30, 2013. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time to allow securities analysts and shareholders the opportunity to hear Management discuss the Company's results for the quarter ended March 31, 2013.
To attend the webcast, go to http://mtg.mgic.com, click on the "Investor Information" button. The call is being webcast and can be accessed at the company's website at http://mtg.mgic.com. The webcast is also being distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Investors can listen to the call through CCBN's individual investor center at www.companyboardroom.com or by visiting any of the investor sites in CCBN's Individual Investor Network. The webcast will be available for replay on the company's website through May 30, 2013 under Investor Information. Individuals interested in joining over the phone please dial 1-866-837-9780 ten minutes before the conference call begins.
About MGIC
MGIC, the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by $162.1 billion primary insurance in force covering 1.0 million mortgages as of December 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 it 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