MGIC Releases Monthly Operating Statistics and Schedules 4th Quarter Earnings
MILWAUKEE, Feb. 8, 2013
MILWAUKEE, Feb. 8, 2013 /PRNewswire/ -- MGIC Investment Corporation (NYSE:
MTG) today issued an Operational Summary of its insurance subsidiaries for the
month of January 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.
Primary New Insurance Written ($Billions) $2.2
Beginning Primary Delinquent Inventory (# of loans) 139,845
Plus: New Notices 11,098
Less: Cures (1) 9,627
Less: Paids (including those charged to a deductible or 3,248
Less: Rescissions and Denials (2) 221
Ending Primary Delinquent Inventory (# of loans) 137,847
993 loans were cured during January as a result of the aggregate loss
(1) limits on certain policies being reached. These policies are not related
to the recently disclosed Freddie Mac Settlement.
Refer to our Form 10-Q filed with the Securities and Exchange Commission
(2) on November 9, 2012, for information about our suspension of certain
rescissions and the number of rescissions suspended as of September 30,
Additionally MTG announced plans to release its 4^th quarter 2012 financial
results before the market opens on Thursday, February 28, 2013. 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, 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 1-866-847-7859
ten minutes before the conference call begins.
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation,
is the nation's largest private mortgage insurer as measured by $164.9 billion
primary insurance in force covering 1.0 million mortgages as of September 30,
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.comunder Investor Information.
SOURCE MGIC Investment Corporation
Contact: Investor Contact, Michael J. Zimmerman, +1-414-347-6596,
firstname.lastname@example.org; Media Contact, Katie Monfre, +1-414-347-2650,
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