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NMI Holdings, Inc. Releases Monthly Operating Statistics for May 2021
EMERYVILLE, Calif., June 03, 2021 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) today reported selected operating statistics for the month of May
About this update from Nmi Holdings Inc
[{"type":"text","content":"EMERYVILLE, Calif., June 03, 2021 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) today reported selected operating statistics for the month of May 2021. At May 31, 2021, the company reported 9,387 loans in default and a default rate of 2.04%. Default Activity as of: 3/31/206/30/209/30/2012/31/203/31/214/30/215/31/21Number of loans in default (1)1,449 10,816 13,765 12,209 11,090 10,060 9,387 Default rate (2)0.38% 2.90% 3.60% 3.06% 2.54% 2.24% 2.04% New Insurance Written During: Quarter Ended 3/31/20Quarter Ended 6/30/20Quarter Ended 9/30/20Quarter Ended 12/31/20Quarter Ended 3/31/21Month Ended 4/30/21Month Ended 5/31/21Weighted average composition FICO 757 762 764 761 755 754 754 Loan-to-value (LTV) 91.3%90.7%90.7%90.9%91.0%91.3%91.4%Debt-to-income (DTI) 34.4%33.3%32.8%33.2%33.6%34.4%34.5% In-focus risk segments 95.01-97.0% LTV 6.4%4.2%3.2%9.5%9.3%9.1%9.0%45% DTI 10.3%7.0%4.9%6.1%6.7%9.8%11.6%Layered risk (3) 0.2%0.1%0.1%0.1%0.1%0.3%0.7% (1) Loans are considered to be in default as of the payment date at which a borrower has missed the preceding two or more consecutive monthly payments (2) Default rate is calculated as total loans in default divided by total policies in force(3) Layered risk includes loans with more than one in-focus risk factor The information concerning the Company's default inventory is compiled from reports received from loan servicers and 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 transfers of servicing rights between loan servicers. While our total default population declined from April 30, 2021 to May 31, 2021, our default population may increase going forward if additional borrowers face challenges related to the COVID-19 outbreak and choose to access the forbearance program for federally backed loans codified under the CARES Act or other programs made available by private lenders. About NMI HoldingsNMI Holdings, Inc. (NASDAQ: NMIH), is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. To learn more, please visit www.nationalmi.com. Cautionary Note Regarding Forward-Looking StatementsT...