NMI Holdings, Inc. Releases Monthly Operating Statistics for May 2020

EMERYVILLE, Calif., June 01, 2020 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) today reported selected operating statistics for the month of May 2020. In light of the COVID-19 crisis, the company will be releasing operating updates related to the credit performance of its insured portfolio and the risk characteristics of its new insurance written on a monthly basis going forward. 

At May 31, 2020, the company reported 2,265 loans in default and a default ratio of 0.61%. A loan is considered to be in default when a borrower has missed two or more consecutive monthly payments. Default ratio is calculated as total loans in default divided by total policies currently in force. 

		Default activity as of:
		3/31/2020		4/30/2020		5/31/2020
Number of loans in default		1,449		1,610		2,265
Default rate		0.38%		0.43%		0.61%

		New insurance written during:
		Quarter Ended 3/31/2020		Month Ended  4/30/2020		Month Ended   5/31/2020
Weighted average composition
FICO		757		762		762
Loan-to-value (LTV)		91.3%		90.8%		90.4%
Debt-to-income (DTI)		34.4%		33.4%		33.2%
In-focus risk segments
95.01-97.0% LTV		6.4%		6.1%		3.6%
<680 FICO		1.9%		1.2%		0.8%
>45% DTI		10.3%		8.2%		6.7%
Layered risk (1)		0.2%		0.1%		0.1%

(1) Layered risk includes loans with more than one in-focus risk factor