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NMI Holdings Inc. (NMIH) is a leader in the mortgage insurance industry, dedicated to restoring trust through innovation and a straightforward approach. Through its subsidiaries, the company provides private mortgage guaranty insurance, reinsurance on loans, and outsourced loan review services. NMI Holdings serves a broad range of clients including national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet-sourced lenders, and other non-bank lenders. Its key objective is to protect lenders and investors from default-related losses on a portion of the unpaid principal balance of covered mortgages.
NMI Holdings is committed to putting customers first by pioneering 12-month rescission relief, offering favorable terms of coverage, and ensuring a fair underwriting process. The company emphasizes innovation to move mortgage insurance (MI) forward, helping more low down payment borrowers achieve homeownership.
In recent developments, NMI Holdings has made significant strides, such as appointing Aurora Swithenbank as Executive Vice President and Chief Financial Officer effective May 1, 2024, with Ravi Mallela continuing as CFO through the transition period. The company has also reported substantial financial metrics, including loss ratios, expense ratios, and combined ratios, which may exhibit variations due to rounding and other factors.
For more detailed financial statistics, the company provides comprehensive information such as book value per share, which excludes net unrealized gains and losses. Notably, all unexercised warrants expired in April 2022, eliminating future changes in warrant liability valuation.
To keep investors informed, NMI Holdings offers regular updates on portfolio statistics, geographic dispersion of primary risk in force (RIF), and recent claims data. The company’s commitment to transparency and customer-centric policies continually strengthens its position in the mortgage insurance sector.
For more information, investors can contact John M. Swenson, Vice President of Investor Relations and Treasury, via email at John.Swenson@NationalMI.com or phone at (510) 788-8417.
NMI Holdings, Inc. (NMIH) reported a net income of $60.2 million, or $0.69 per diluted share, for the third quarter of 2021, reflecting a 5% increase from the previous quarter and a significant 58% year-over-year growth. Adjusted net income rose to $61.8 million, equating to $0.71 per diluted share. The primary insurance-in-force reached $143.6 billion, up 5% quarter-over-quarter and 37% year-over-year. Shareholders' equity increased by 4% from the previous quarter. The favorable credit performance and demand for down payment assistance position the company well for continued growth.
NMI Holdings, Inc. (Nasdaq: NMIH) has successfully closed a $364 million mortgage insurance-linked notes offering via Oaktown Re VII Ltd., a Bermuda-based reinsurance company. The offering features five classes of notes with varying interest rates tied to one-month SOFR. National Mortgage Insurance Corporation, a subsidiary of NMIH, will receive fully collateralized excess of loss reinsurance protection, covering loans with a cumulative claim rate threshold starting at 1.85% and an aggregate detachment level of 7.45%. The offering is aimed at enhancing National MI's risk management capabilities.
NMI Holdings, Inc. (NASDAQ:NMIH) has announced its annual Investor Day scheduled for December 2, 2021, from 9:00 am to 11:30 am ET. The event will take place at the St. Regis Hotel in New York City and will be live-streamed on the company's website. A replay will be available after the event. This Investor Day offers insights into NMIH's business strategies and performance, aimed at enhancing transparency for stakeholders. Interested parties can register here.
NMI Holdings, Inc. (NASDAQ: NMIH) will release its third-quarter earnings results after the market closes on November 2, 2021. A conference call and live webcast are scheduled for 2:00 PM PT / 5:00 PM ET. Interested participants can access the call in the U.S. at (888) 734-0328 or internationally at (914) 495-8578 using Conference ID: 1091419. The earnings press release, as well as a replay of the webcast, will be available on the company's website. NMI Holdings operates National Mortgage Insurance Corporation, providing mortgage insurance to support low-down-payment borrowers.
NMI Holdings (Nasdaq: NMIH) announced leadership changes as Adam Pollitzer becomes CEO effective January 1, 2022, succeeding Claudia Merkle. Merkle's tenure saw the company's insurance in-force nearly double from $69 billion to $137 billion. Pollitzer, who joined as CFO in 2017, has been pivotal in corporate strategy and financial success. The board expresses confidence in his ability to drive future growth. National MI focuses on expanding access to homeownership through mortgage insurance and is well-positioned for continued success.
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings (NASDAQ: NMIH), has integrated its services with the Mortgage Coach platform. This integration allows mortgage lenders to provide borrowers with personalized, risk-based pricing options for mortgage insurance directly within the platform. By utilizing National MI's Rate GPS tool, lenders can quickly generate accurate loan pricing scenarios, enhancing borrower education and decision-making. With this upgrade, lenders can offer competitive rates, leading to faster commitments and improved accessibility to private mortgage insurance for homebuyers.
NMI Holdings, Inc. (NMIH) reported a net income of $57.5 million, or $0.65 per diluted share, for Q2 2021, an increase from $52.9 million in Q1 2021 and $26.8 million in Q2 2020. Adjusted net income was $58.1 million, reflecting a 9% quarter-over-quarter rise. Key metrics include a 10% increase in primary insurance-in-force to $136.6 billion and net premiums earned of $110.9 million, up 5% from Q1. Shareholders' equity reached $1.5 billion, up 6% quarter-over-quarter.
NMI Holdings, Inc. (NASDAQ: NMIH) will release its second quarter earnings on August 3, 2021, after market close. The company operates National Mortgage Insurance Corporation, providing mortgage insurance to enable low-down-payment borrowers to achieve home ownership while safeguarding lenders from defaults. A live conference call is scheduled for 2:00 PM PT, allowing investors to discuss the results. A replay along with the earnings press release will be accessible on their website.
On July 6, 2021, NMI Holdings reported operational statistics for June 2021, revealing 8,764 loans in default with a default rate of 1.86%. The company has decided to cease its monthly reporting of selected statistics that began during the COVID pandemic, opting to include them in quarterly earnings releases moving forward. The default rate has decreased from earlier periods, indicating a potential normalization in the economic environment.
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