MGIC Releases Monthly Operating Statistics and Schedules 1st Quarter Earnings Call

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Apr 08, 2014, 07:00 ET

MILWAUKEE, April 8, 2014 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of its insurance subsidiaries for the month of March 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.

		March 2014
Primary New Insurance Written (Billions)		$2.0

Beginning Primary Delinquent Inventory (# of loans)		97,588
Plus: New Notices		6,578
Less: Cures		9,886
Less: Paids (including those charged to a deductible or captive)		2,296
Less: Rescissions and Denials (1)		142
Ending Primary Delinquent Inventory (# of loans)		91,842

(1)	Refer to our Form 10-K filed with the Securities and Exchange Commission on February 28, 2014 for information about our suspension of certain rescissions and the number of rescissions suspended as of December 31, 2013.

Additionally MTG announced plans to release its 1^st quarter 2014 financial results before the market opens on Tuesday, April 22, 2014. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time that same day to allow securities analysts and shareholders the opportunity to hear Management discuss the Company's results for the quarter ended March 31, 2014.

The conference call number is 1-866-847-7859. The call is also being webcast and can be accessed via the company's website http://mtg.mgic.com and clicking on the "Investor Information" button. A replay of the webcast will be available on the company's website through May 22, 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 December 31, 2013 MGIC had $158.7 billion of primary insurance in force covering approximately 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