MGIC Investment (MTG) Delinquent Inventory Fell 3,308 in December
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MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of its insurance subsidiaries for the month of December 2012 for their primary mortgage insurance.
(1) 941 loans were cured during December as a result of the aggregate loss limits on certain policies being reached. These policies are not related to the recently disclosed Freddie Mac settlement.
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December 2012 | ||
Primary New Insurance Written ($Billions) | $2.2 | |
Beginning Primary Delinquent Inventory (# of loans) | 143,153 | |
Plus: New Notices | 10,314 | |
Less: Cures (1) | 10,150 | |
Less: Paids (including those charged to a deductible or captive) | 3,297 | |
Less: Rescissions and Denials (2) | 175 | |
Ending Primary Delinquent Inventory (# of loans) | 139,845 | |
(2) Refer to our Form 10-Q filed with the Securities and Exchange Commission on November 9, 2012, for information about our suspension of certain rescissions and the number of rescissions suspended as of September 30, 2012. | ||
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