MGIC Investment Corp. (MTG)

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MGIC Q1 2021 HIGHLIGHTS

First, bear in mind MGIC was
#1 in NIW IN Q1.
#1 IN IIF

First Quarter Summary

New insurance written was $30.8 billion, compared to $33.2 billion the fourth quarter of 2020 and $17.9 billion in the first quarter of 2020, reflecting the resilience of the purchase mortgage market, the attractive refinance market, and our position in the market.
Persistency, or the percentage of insurance remaining in force from one year prior, was 56.2% at March 31, 2021, compared with 60.5% at December 31, 2020 and 73.0% at March 31, 2020.
Insurance in force (IIF) of $251.7 billion at March 31, 2021 increased by 2.1% during the quarter and 11.6% compared to March 31, 2020.
Primary delinquency inventory of 52,775 loans at March 31, 2021 decreased from 57,710 loans at December 31, 2020, but increased from 27,384 loans at March 31, 2020 primarily due to the adverse economic impact of COVID-19.