MGIC Investment Corporation Releases Monthly Operating Statistics

October 2017

October 2016

Change

Insurance in Force (billions)

$192.2

ARIVA.DE Börsen-Geflüster

Kurse

Mgic Investment 20,48 $ +0,59%

$180.7

6.4%

       Flow Only

$184.0

$171.2

7.5%

Beginning Primary Delinquent Inventory (# of loans)

41,235

51,433

(19.8%)

Plus: New Delinquency Notices – Non-Hurricane Impacted Areas (1)

4,549

4,882

(6.8%)

Plus: New Delinquency Notices - Hurricane Impacted Areas (1)

3,394

637

432.8%

Less: Cures

4,680

5,335

(12.3%)

Less: Paids (including those charged to a deductible or captive reinsurer)

660

966

(31.7%)

Less: Rescissions and Denials

22

39

(43.6%)

Ending Primary Delinquent Inventory (# of loans)

43,816

50,612

(13.4%)

(1)

Hurricane impacted areas are locations that the Federal Emergency Management Agency has declared Individual Assistance Disaster Areas as a result of hurricanes Harvey, Irma and Maria.  There were 8,987 and 7,289 loans in our Ending Primary Delinquent Inventory as of October 31, 2017 and 2016, respectively, that were located in these areas.  Based on our analysis and past experience, we do not expect the increased level of notices received in those areas to result in a material increase in our incurred losses or paid claims.  The Private Mortgage Insurer Eligibility Requirements of Fannie Mae and Freddie Mac require us to maintain significantly more "Minimum Required Assets" for delinquent loans than for performing loans. We expect the increase in delinquency notices to result in a temporary increase in "Minimum Required Assets" and a decrease in the level of our excess "Available Assets" under the PMIERs. Due to the suspension of certain foreclosures by the GSEs, our receipt of claims associated with foreclosed mortgages in the hurricane-affected areas may be delayed. The following factors could cause our actual results to differ from our expectations in the forward looking statements in this press release:

•

Third party reports that indicate the extent of flooding in the hurricane-affected areas may be understated.

•

Home values in hurricane-affected areas may decrease at the time claims are filed from their current levels thereby adversely affecting our ability to mitigate loss.

•

Hurricane-affected areas may experience deteriorating economic conditions resulting in more borrowers defaulting on their loans in the future (or failing to cure existing defaults) than we currently expect.

•

If an insured contests our claim denial or curtailment, there can be no assurance we will prevail. We describe how claims under our policy are affected by damage to the borrower's home in our Current Report on Form 8-K filed with the SEC on September 14, 2017.