MGIC Releases Monthly Operating Statistics

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Dec 09, 2013, 07:00 ET

MILWAUKEE, Dec. 9, 2013 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of its insurance subsidiaries for the month of November 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.

		November 2013
Primary New Insurance Written (Billions)		$2.2

Beginning Primary Delinquent Inventory (# of loans)		109,629
Plus: New Notices		8,012
Less: Cures		8,459
Less: Paids (including those charged to a deductible or captive)		2,553
Less: Rescissions and Denials		146
Less: Items removed from inventory resulting from Countrywide Settlement on GSE loans (1)		1,846
Ending Primary Delinquent Inventory (# of loans)		104,637


(1)	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 1,846 loans reduce the number of suspended rescissions that were in our Ending Primary Delinquent Inventory as of October 31, 2013.

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