MGIC Investment Corp. (MTG)

[tommiegun54]

INSURANCE IN FORCE JUMPS 1.4%/$3.4 BILLION IN APRIL 2021 AS MGIC LEADS THE PMI INDUSTRY

MGIC CLOSED Q1 2021 AT $251.7 BILLION. RADIAN'S INSURANCE IN FORCE DECLINED TO $238.9 BILLION FROM $246.1 BILLION. ESSENT GUARANTY DECLINED TO $197.1 BILLION, NMI HOLDINGS INCREASED TO $123.7 BILLION.

MGIC INSURANCE IN FORCE INCREASED TO $255.1 BILLION IN APRIL FROM $251.7 BILLION. THE ANALYSTS WERE IMPRESSED DURING THE EARNINGS CONFERENCE.

BUT WAIT!, MGIC DELINQUENCY INVENTORY DECLINED BY AN IMPRESSIVE 4,950 LOANS TO 47,825 LOANS FROM 52,775. THAT WAS THE LARGEST ONE MONTH DECLINE IN OVER 7 YEARS.

The reserve per DELINQUENCY is $17,147. That's a $85.2 million reduction, that theoretically could be added to income in Q2 2021.