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NMI Holdings, Inc. reports developments for its National Mortgage Insurance Corporation subsidiary, a U.S.-based private mortgage insurance company that supports low down payment borrowers and protects lenders and investors against losses tied to borrower default. Recurring updates cover quarterly and annual financial results, insured portfolio growth, new insurance written, credit performance, risk-transfer solutions, shareholders’ equity and book value trends. Company announcements also include earnings-call schedules, financial-institution conference participation, and board governance changes such as independent-director appointments.
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.
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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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NMI Holdings, Inc. (NMIH) reported its operating statistics for May 2021, revealing a total of 9,387 loans in default and a default rate of 2.04%. This marks a decline from previous months, reflecting a slight recovery in loan performance. Key metrics include a weighted average FICO of 754, loan-to-value (LTV) ratio of 91.4%, and debt-to-income (DTI) of 34.5%. Despite the downward trend in defaults, the company cautions that challenges from the COVID-19 pandemic may lead to an increase in defaults as borrowers potentially turn to forbearance options.
NMI Holdings reported a net income of $52.9 million, or $0.61 per diluted share for Q1 2021, up from $48.3 million in Q4 2020 but down from $58.3 million in Q1 2020. Adjusted net income was $53.4 million, a 5% increase from Q4 2020. New insurance written was $26.4 billion, a 33% quarter-over-quarter increase. The company's primary insurance-in-force grew 11% to $123.8 billion. NMIH maintained a strong cash position with $1.9 billion in cash and investments, reflecting positive credit performance and a favorable outlook for the economy.