Magazine article Mortgage Banking

National MI Sees Solid Growth in 2Q

Magazine article Mortgage Banking

National MI Sees Solid Growth in 2Q

Article excerpt

Even though the company reported a net loss for the second quarter of $10.4 million, NMI Holdings Inc., Emeryville, California, reported that its mortgage insurance company (National Mortgage Insurance Corporation), saw major growth in new insurance written during the quarter. The net loss for this year's second quarter was down from the net loss of $12.9 million posted in last year's second quarter.

The volume of new insurance written by the private mortgage insurer in the second quarter was $2.5 billion. That was up by 50 percent from $1.7 billion in the first quarter.

Premiums earned for the second quarter were $8.9 million, up from $6.9 million in the first quarter. Total revenues were $10.9 million in the second quarter, which was up from $9.1 million in the prior quarter.

Primary insurance in force soared from just $0.9 billion as of June 30, 2014, to $7.2 billion as of June 30, 2015.

The number of customers doing business with National MI climbed from year-ago levels. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.