MGIC Investment Corporation Schedules 2nd Quarter 2020 Earnings Call and Releases Monthly Operating Statistics
MGIC Investment Corporation Schedules 2nd Quarter 2020 Earnings Call and Releases Monthly Operating Statistics |
[08-July-2020] |
MILWAUKEE, July 8, 2020 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) has announced plans to release its 2nd quarter 2020 financial results before the market opens on Wednesday August 5, 2020. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time to discuss the Company's results for the quarter ended June 30, 2020. Individuals interested in joining by telephone should dial 1-866-834-4126 ten minutes before the conference call begins. The call is also being webcast and can be accessed via the company's website http://mtg.mgic.com under Newsroom. A replay of the webcast will be available on the company's website through September 5, 2020. MGIC also today issued selected operating statistics for its insurance subsidiaries for the month of June 2020 for their primary mortgage insurance. The statistics are also available on the company's investor website under Newsroom, Press Releases. The information concerning new delinquency notices and cures is compiled from reports received from loan servicers. The level of new notice and cure activity reported in a particular month can be influenced by, among other things, the date on which a servicer generates its report, the accuracy of the data provided by servicers, the number of business days in a month, transfers of servicing between loan servicers, and whether all servicers have provided the reports in a given month. Notices of delinquency are typically reported to us when loans are two payments past due (for example, for June we report as a new delinquency any delinquent loan that missed its May 1st (or earlier) payment that was not previously reported to us.) We expect the number of delinquencies will increase as a result of the COVID-19 pandemic. The magnitude of the increase, which may be significant, will be influenced by various factors, including the length and severity of the pandemic in the United States, the length of time that measures intended to reduce the transmission of COVID-19 remain in place, the resulting level of unemployment, and the impact of various government initiatives to mitigate the economic harm caused by COVID-19 and efforts to reduce its transmission The information concerning the percentage of loans in forbearance is based on the most recent information provided by Fannie Mae and Freddie Mac (the GSEs), as well as loan servicers, and we believe represents only forbearances related to COVID-19. While the forbearance information provided by the GSEs refers to delinquent loans in forbearance as of the prior month-end, the information provided by loan servicers may be more current.
About MGIC Mortgage Guaranty Insurance Corporation "MGIC" (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality. From time to time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website for information related to underwriting and pricing, and intends to continue to do so in the future. Such postings include corrections of previous disclosures, and may be made without any other disclosure. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For information about our underwriting and rates, see https://www.mgic.com/underwriting. Cautionary Note Regarding Forward-Looking Statements View original content:http://www.prnewswire.com/news-releases/mgic-investment-corporation-schedules-2nd-quarter-2020-earnings-call-and-releases-monthly-operating-statistics-301089473.html SOURCE MGIC Investment Corporation | ||||||||||||||||||||||||||||||||||||||||||
Company Codes: NYSE:MTG |
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