MILWAUKEE, Jan. 9, 2014 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of its insurance subsidiaries for the month of December 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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December 2013
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Primary New Insurance Written (Billions)
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$2.1
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Beginning Primary Delinquent Inventory (# of loans)
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104,637
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Plus: New Notices
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8,980
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Less: Cures
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7,259
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Less: Paids (including those charged to a deductible or captive)
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2,445
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Less: Rescissions and Denials
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158
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Less: Items removed from inventory resulting from Countrywide Settlement on GSE loans (1)
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427
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Ending Primary Delinquent Inventory (# of loans)
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103,328
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(1)
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Refer to our Form 10-Q filed with the Securities and Exchange Commission on November 8, 2013, for information about our suspension of certain rescissions and the number of rescissions suspended as of September 30, 2013. These 427 loans reduce the number of suspended rescissions that were in our Ending Primary Delinquent Inventory as of November 30, 2013.
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Additionally MTG announced plans to release its 4th quarter 2013 financial results before the market opens on Thursday, January 23, 2014. 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 December 31, 2013.
Individuals interested in joining over the phone please dial 1-866-206-7204 ten minutes before the conference call begins. The call is also being webcast which can be accessed via the company's website http://mtg.mgic.com and clicking on the "Investor Information" button. The webcast will be available for replay on the company's website through February 23, 2014 under Investor Information.
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 September 30, 2013 MGIC had over $159 billion of primary insurance in force covering 1.0 million mortgages.
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
