MILWAUKEE, Nov. 10, 2014 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of its insurance subsidiaries for the month of October 2014 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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October 2014
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Primary New Insurance Written (Billions)
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$3.3
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Beginning Primary Delinquent Inventory (# of loans)
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83,154
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Plus: New Notices
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7,543
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Less: Cures
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6,564
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Less: Paids (including those charged to a deductible or captive)
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1,704
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Less: Rescissions and Denials (1)
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60
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Ending Primary Delinquent Inventory (# of loans)
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82,369
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(1) Refer to our Form 8-K filed with the Securities and Exchange Commission on July 16, 2014 for information about our suspension of certain rescissions and the number of rescissions suspended as of June 30, 2014.
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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, 2014 MGIC had $162.4 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 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
