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NMI Holdings, Inc. Releases Monthly Operating Statistics for September 2020
EMERYVILLE, Calif., Oct. 05, 2020 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) today reported selected operating statistics for the month of
About this update from Nmi Holdings Inc
[{"type":"text","content":"EMERYVILLE, Calif., Oct. 05, 2020 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) today reported selected operating statistics for the month of September 2020. At September 30, 2020, the company reported 13,765 loans in default and a default rate of 3.60%.\n Default Activity as of: 3/31/20206/30/20207/31/20208/31/209/30/20Number of loans in default (1) 1,44910,81614,17514,23613,765Default rate (2) 0.38%2.90%3.78%3.76%3.60% New Insurance Written During: Quarter Ended 3/31/2020Quarter Ended 6/30/2020Month Ended 7/31/2020Month Ended 8/31/2020Month Ended 9/30/2020Weighted average composition FICO 757762763764764Loan-to-value (LTV) 91.3%90.7%90.9%90.6%90.7%Debt-to-income (DTI) 34.4%33.3%33.0%33.0%32.6% In-focus risk segments 95.01-97.0% LTV 6.4%4.2%2.5%2.3%4.6%45% DTI 10.3%7.0%4.8%5.0%4.9%Layered risk (3) 0.2%0.1%0.1%0.0%0.1% (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 August 31, 2020 to September 30, 2020, 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 StatementsThis press release may contain statements that are deemed to be forward looking statements within the meaning of ...