NMI Holdings, Inc. Provides Guidance on Capital Position Under Revised Private Mortgage Insurer Eligibility Requirements
22 August 2024 - 8:41AM
NMI Holdings, Inc., (Nasdaq:NMIH), the parent company
of National Mortgage Insurance Corporation (National MI),
today provided guidance on its capital position under the revised
Private Mortgage Insurer Eligibility Requirements (PMIERs) released
by Fannie Mae and Freddie Mac (the GSEs), and
the Federal Housing Finance Administration (FHFA)
on August 21, 2024.
As previously disclosed, at June 30, 2024,
National MI had PMIERs total available assets of $2,828
million, compared to risk-based required assets of $1,652
million, with $1,176 million of excess funding
capacity. Under the revised PMIERs framework the company
estimates that its total available assets would have
been $2,800 million and its risk-based required assets
would have been $1,656 million as of June 30, 2024,
with pro forma excess funding capacity of $1,144 million.
The GSEs and FHFA have indicated that the
revised PMIERs framework will take effect on a phased basis
beginning March 31, 2025 and will be fully implemented on September
30, 2026. National MI expects to remain in full compliance with the
existing and revised PMIERs, as applicable, prior to and
after March 31, 2025.
About National MINational
Mortgage Insurance Corporation (National MI), a subsidiary of NMI
Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage
insurance company enabling low down payment borrowers to realize
home ownership while protecting lenders and investors against
losses related to a borrower’s default. To learn more, please visit
www.nationalmi.com.
Cautionary Note Regarding
Forward-Looking StatementsThis press release contains
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the "Securities Act"), Section
21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act”), the U.S. Private Securities Litigation Reform Act
of 1995, or in releases made by the U.S. Securities and Exchange
Commission (“SEC”), all as may be amended from time to time.
Forward-looking statements are statements about future, not past,
events and rely on a number of assumptions concerning future events
and involve certain important risks and uncertainties, any of which
could cause our actual results to differ materially from those
expressed in our forward-looking statements. Forward-looking
statements in this press release include, without limitation,
statements regarding the potential impact of regulatory changes.
More information about the risks, uncertainties and assumptions
affecting National MI include, but are not necessarily limited to,
the risk factors and forward-looking statements cautionary language
contained in our Annual Report on Form 10-K and in other filings
made with the SEC. We do not undertake, and specifically disclaim,
any obligation to revise any forward-looking statements to reflect
the occurrence of future events or circumstances.
Investor ContactJohn M.
SwensonVice President, Investor Relations and
Treasuryinvestor.relations@nationalmi.com(510) 788-8417
Press ContactLesley AlliSenior Vice President,
Industry Relations, Marketing and
Communicationsmedia@nationalmi.com (510) 858-0568
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