MGIC Investment Corporation Expects First Quarter 2021 Earnings Call, Releases Monthly Operating Statistics

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MILWAUKEE, April 7, 2021 / PRNewswire / – MGIC Investment Corporation (NYSE: MTG) Announced Plans to Release First Quarter 2021 Financial Results After Market Close Wednesday 5 May, 2021. A conference call / webcast is scheduled for 10:00 a.m. Eastern Time on Thursday, May 6, 2021 to discuss the Company’s results for the quarter ended March 31, 2021.

Those interested in joining by telephone should dial 1-866-834-4126 ten minutes before the start of the conference call. The call is also webcast and can be viewed through the company’s investor website http://mtg.mgic.com under Newsroom. A replay of the webcast will be available on the company’s website until June 6, 2021.

The Company also today released selected primary mortgage insurance operating statistics for its insurance subsidiaries for the month of March 2021 today. The summary is also available on the Company’s investor website under press, press releases.

Information regarding new delinquency notices and remedies is compiled from reports received from loan officers. The level of new notification and processing activity reported in a given month can be influenced, among other things, by the date on which a service provider generates its report, the accuracy of the data provided by the service providers, the number of working days in a month, transfers of service between loan managers, and whether all managers provided reports in a given month. Notices of default are usually reported to us when loans are overdue by two payments (for example, for March, we report as a new default any overdue loan that has not February 1st (or earlier) payment that has not been reported to us before). We predict that the number of delinquencies will continue to be influenced by various factors related to the COVID-19 pandemic, including its duration and severity, the length of time measures to reduce its transmission remain in place, the level of unemployment resulting in the impact of various government initiatives aimed at mitigating the resulting economic damage and efforts to reduce its transmission.

The information regarding the percentage of loans withheld is based on the most recent information provided by Fannie Mae and Freddie Mac (the GSEs), as well as the loan managers, and we believe that almost all of the withholdings reported are related to COVID-19. While the forbearance information provided by GSEs refers to overdue loans withheld at the end of the previous month, the information provided by loan managers may be more up to date.

January

February

March

Inventory of first offenders at start (number of loans)

57,710

56,315

55 103

More: New delinquency notices

4 810

4,330

3,871

Less: Cures

6,094

5 446

6 088

Less: paid claims

108

95

109

Less: Cancellations and refusals

3

1

2

End of primary overdue inventory (number of loans)

56,315

55 103

52,775

% of new delinquency notices withheld

47%

46%

42%

% of the inventory of primary delinquency in abstention

60%

61%

61%

About MGIC
Mortgage Guarantee Insurance Company (“MGIC”) (www.mgic.com), the main subsidiary of MGIC Investment Corporation, serves lenders everywhere United States, Porto Rico, and other places to help families get home faster by making affordable, low down payment mortgages a reality through the use of private mortgage insurance.

From time to time, MGIC Investment Corporation publishes material information through posts on its corporate website and through posts on the MGIC website for underwriting and pricing information, and intends to continue to do so in the future. These publications include corrections to prior disclosures and may be made without any further disclosure. Investors and other interested parties are encouraged to sign up to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new publications. Registration information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For more information on our pricing and rates, see https://www.mgic.com/underwriting.

Caution Regarding Forward-Looking Statements
This press release may contain forward-looking statements. Forward-looking statements consist of statements that relate to matters other than historical facts, including matters that intrinsically refer to future events and involve certain material risks and uncertainties, each of which could cause our actual results to differ. substantially from those expressed in our forward-looking statements. statements. More information on the risks, uncertainties and assumptions affecting the company can be found in the risk factors included in Exhibit 99 of our annual report on Form 10-K for the year ended. December 31, 2020, and in other documents filed with the Securities and Exchange Commission. No investor should rely on the fact that these statements are up to date at any time other than the time when this press release was issued.

Cision

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SOURCE MGIC Investment company

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