Get Your Mortgage Rate Quote in Just 30 Seconds

Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below.

New Business, Losses Down at National MI

National Mortgage Insurance Corp. cut its losses in the latest quarter. But the mortgage insurance company also saw a reduction in its new business.

In the quarter that ended on March 31, 2016, new insurance written worked out to $4.254 billion.

Activity eased from the final quarter of last year, when volume came to $4.547 billion.

The Emeryville, California-based firm disclosed the details, along with other financial and operational metrics, in its first-quarter 2016 earnings report.

New business was significantly better, however, than $1.696 billion in new insurance written during the first-three months of last year.

Insurance in force ended last month at $18.564 billion.

National MI’s book of business grew from $14.824 billion as of Dec. 31, 2015, and just $4.835 billion as of March 31, 2015.

The mortgage insurer said it had 79,700 policies
in force as of the most-recent date. The number increased from 63,948 three months earlier and 21,225 twelve months earlier.

Just 55 loans insured by National MI were in default as of March 31, 2016.

The distressed count increased from 36 mortgages at the end of the fourth-quarter 2015 and just six loans at the end of the first-quarter 2015.

National MI had a $4 million first-quarter loss before income taxes. Losses were halved from a year previous.

Popular posts

7 Refinance Strategies
7 Refinance Strategies

Refinance to a lower interest rate: If interest rates have dropped since you took out your original mortgage, refinancing to a lower rate can help you save money on your monthly payments and reduce the overall cost of your loan. Refinance to a shorter loan term:...

7 Refinance Strategies
Is Refinancing With Your Present Lender Preferable?

Do Not Accept the First Refinancing Offer You Receive Homeowners should not accept the first refinancing rate provided to them. This is particularly important if you are applying with your existing lender. Some mortgage lenders have mechanisms in place that prioritize...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

Fannie Mae Profile

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC...