MGIC Releases Monthly Operating Statistics and Announces Date for 2nd Quarter Earnings Call

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Jul 11, 2012, 04:15 ET

MILWAUKEE, July 11, 2012 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), today issued an Operational Summary for the month of June 2012 for its primary mortgage insurance business. 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 transfers of servicing between loan servicers.

		June 2012
Primary New Insurance Written ($ Billions)		$2.2

Beginning Primary Delinquent Inventory (# of loans)		154,973
Plus: New Notices		11,200
Less: Cures		8,114
Less: Paids (including those charged to a deductible or captive)		3,981
Less: Net Rescissions and Denials (1) (2)		88
Ending Primary Delinquent Inventory (# of loans)		153,990

(1)	Refer to our Form 8-K filed with the Securities and Exchange Commission on April 23, 2012, for information about our suspension of certain rescissions and the number of rescissions suspended as of March 31, 2012.
(2)	As we have previously disclosed one GSE has approved one of our settlement agreements. We recently executed this agreement with a customer and in June 2012 we reversed certain rescissions.

MTG also announced plans to release its second quarter 2012 financial results before the market opens on Thursday, August 2, 2012. 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 second quarter of 2012.

To attend the webcast, go to http://mtg.mgic.com, click on the "Investor Information" button. The call will be broadcast live over the internet, and replays will be available on the web following the call.

Individuals interested in joining over the phone please dial 1-866-793-1344 ten minutes before the conference call begins.

About MGIC

MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by $169.0 billion primary insurance in force covering 1.1 million mortgages as of March 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 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