MILWAUKEE, June 8, 2011 /PRNewswire via COMTEX/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), today issued an Operational Summary for the month of May, 2011 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 and by transfers of servicing between loan servicers.
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May 2011 |
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Primary New Insurance Written ($ Billions) |
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$1.0 |
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Beginning Primary Delinquent Inventory (# of loans) |
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189,433 |
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Plus: New Notices |
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13,764 |
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Less: Cures |
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11,476 |
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Less: Paids (including those charged to a deductible or captive) |
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4,539 |
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Less: Rescissions and Denials |
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666 |
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Ending Primary Delinquent Inventory (# of loans) |
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186,516 |
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About MGIC
MGIC (http://www.mgic.com/), the principal subsidiary of MGIC Investment Corporation, is the nation's leading provider of private mortgage insurance coverage with $186.9 billion primary insurance in force covering 1.2 million mortgages as of March 31, 2011. 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. 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
