Insights on NMI Holdings' Capital Position and PMIERs
![Insights on NMI Holdings' Capital Position and PMIERs](https://investorshangout.com/images/blog/investors-hangout-newswire.jpg)
NMI Holdings, Inc. Guidance on Capital Position
NMI Holdings, Inc. (Nasdaq:NMIH), the parent company of National Mortgage Insurance Corporation, recently provided insights into its capital position in light of the revised Private Mortgage Insurer Eligibility Requirements (PMIERs) released by pertinent federal authorities.
Overview of Capital Position
As of the end of the second quarter of 2024, National MI reported total available assets amounting to $2,828 million. This figure was substantial when compared to the risk-based required assets of $1,652 million, resulting in an impressive $1,176 million of excess funding capacity. In projections based on the new PMIERs framework, the company anticipates that its total available assets would have been slightly lower at $2,800 million, with risk-based required assets adjusted to $1,656 million. This adjustment would still allow for a pro forma excess funding capacity of $1,144 million as of the same date.
Implications of Revised PMIERs
The revised PMIERs, set forth by the Government-Sponsored Enterprises (GSEs) and the Federal Housing Finance Administration (FHFA), are scheduled to be implemented in phases starting on March 31, 2025, with full implementation expected by September 30, 2026. National MI is confident in its ability to comply with both the existing and revised standards throughout this transition period.
Strengthening Compliance and Market Position
With ongoing adjustments and updates to regulatory requirements, National MI emphasizes its commitment to maintaining compliance. The company is strategically positioned to manage its capital effectively, thus ensuring that it meets both current and anticipated requirements while continuing to serve its clients and stakeholders.
About National Mortgage Insurance Corporation
National Mortgage Insurance Corporation (National MI), as a subsidiary of NMI Holdings, Inc., functions as a pivotal player in the U.S. private mortgage insurance sector. The company enables borrowers to pursue home ownership with lower down payments while simultaneously protecting lenders and investors from potential loss due to borrower defaults. This essential service plays a crucial role in facilitating homeownership access.
National MI's Commitment to Borrowers
The capabilities offered by National MI empower various stakeholders in the housing market. The company's core mission is to provide essential mortgage insurance solutions that bolster borrower confidence and lender security, thus stimulating growth in the housing sector.
Investor Relations and Contacts
For more information regarding NMI Holdings, Inc. and its operations, interested parties are encouraged to connect with the Investor Relations team. John M. Swenson serves as the Vice President of Investor Relations and Treasury and can be reached at the following contact number: (510) 788-8417.
Press Inquiries
Lesley Alli, Senior Vice President of Industry Relations, Marketing, and Communications, is available for media inquiries. She can be contacted directly via email or at (510) 858-0568.
Frequently Asked Questions
What are the revised PMIERs?
The revised PMIERs are new eligibility requirements set by the GSEs and FHFA that impact how private mortgage insurers operate and manage their capital.
What is National MI's capital position as of June 30, 2024?
As of June 30, 2024, National MI reported total available assets of $2,828 million against risk-based required assets of $1,652 million, showcasing significant excess funding capacity.
When will the new PMIERs be fully implemented?
The new PMIERs are scheduled to begin phased implementation on March 31, 2025, and are expected to be fully in effect by September 30, 2026.
How does National MI support low down payment borrowers?
National MI provides private mortgage insurance that helps low down payment borrowers achieve homeownership while protecting lenders from potential losses due to defaults.
Who can I contact for investor relations inquiries?
Investor inquiries can be directed to John M. Swenson, Vice President of Investor Relations and Treasury, at (510) 788-8417.
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