MGIC Releases Monthly Operating Statistics and Schedules 4th Quarter Earnings
MILWAUKEE, Jan. 9, 2014
MILWAUKEE, Jan. 9, 2014 /PRNewswire/ --MGIC Investment Corporation (NYSE:
MTG) today issued an Operational Summary of its insurance subsidiaries for the
month of December 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) $2.1
Beginning Primary Delinquent Inventory (# of loans) 104,637
Plus: New Notices 8,980
Less: Cures 7,259
Less: Paids (including those charged to a deductible or 2,445
Less: Rescissions and Denials 158
Less: Items removed from inventory resulting from Countrywide 427
Settlement on GSE loans (1)
Ending Primary Delinquent Inventory (# of loans) 103,328
Refer to our Form 10-Q filed with the Securities and Exchange Commission
on November 8, 2013, for information about our suspension of certain
(1) rescissions and the number of rescissions suspended as of September 30,
2013. These 427 loans reduce the number of suspended rescissions that were
in our Ending Primary Delinquent Inventory as of November 30, 2013.
Additionally MTG announced plans to release its 4^th quarter 2013 financial
results before the market opens on Thursday, January 23, 2014. 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, 2013.
Individuals interested in joining over the phone please dial 1-866-206-7204
ten minutes before the conference call begins. The call is also being webcast
which can be accessed via the company's website http://mtg.mgic.com and
clicking on the "Investor Information" button. The webcast will be available
for replay on the company's website through February 23, 2014 under Investor
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
Contact: Investors, Michael J. Zimmerman, (414) 347-6596,
firstname.lastname@example.org, or Media, Katie Monfre, (414) 347-2650,
Press spacebar to pause and continue. Press esc to stop.