GlobeNewswire Inc | Apr 2, 2021 08:00AM EDT

April 02, 2021

EMERYVILLE, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) today reported selected operating statistics for the month of March 2021. At March 31, 2021, the company reported 11,090 loans in default and a default rate of 2.54%.

Default Activity as of: 3/31/ 6/30/ 9/30/ 12/31/ 1/31/ 2/28/ 3/31/ 2020 2020 2020 2020 2021 2021 2021Number of loans 1,449 10,816 13,765 12,209 11,905 11,648 11,090in default (1)Default rate (2) 0.38% 2.90% 3.60% 3.06% 2.90% 2.77% 2.54%



New Insurance Written During: Quarter Quarter Quarter Quarter Month Month Month Ended Ended Ended Ended Ended Ended Ended 3/31/ 6/30/ 9/30/ 12/31/ 1/31/ 2/28/ 3/31/ 2020 2020 2020 2020 2021 2021 2021Weighted averageFICO 757 762 764 761 756 755 754Loan-to-value 91.3% 90.7% 90.7% 90.9% 90.9% 90.9% 91.1%(LTV)Debt-to-income 34.4% 33.3% 32.8% 33.2% 33.6% 33.7% 33.7%(DTI) In-focus risk segments95.01-97.0% LTV 6.4% 4.2% 3.2% 9.5% 9.2% 9.1% 9.4%<680 FICO 1.9% 1.0% 0.7% 1.0% 1.4% 1.8% 2.3%>45% DTI 10.3% 7.0% 4.9% 6.1% 6.5% 6.5% 7.2%Layered risk 0.2% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%(3)

(1) Loans are considered to be in default as of the payment date at which a borrower has missed the preceding two or more consecutive monthly payments(2) Default rate is calculated as total loans in default divided by total policies in force(3) Layered risk includes loans with more than one in-focus risk factor

The information concerning the Company's default inventory is compiled from reports received from loan servicers and can be influenced by, among other things, the date on which a servicer generates its report, the number of business days in a month, and transfers of servicing rights between loan servicers. While our total default population declined from February 28, 2021 to March 31, 2021, our default population may increase going forward if additional borrowers face challenges related to the COVID-19 outbreak and choose to access the forbearance program for federally backed loans codified under the CARES Act or other programs made available by private lenders.

About NMI HoldingsNMI Holdings, Inc. (NASDAQ: NMIH), is the parent company of National Mortgage Insurance Corporation (National MI), 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 may contain statements that are deemed to be 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), and the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, 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. Any or all of our forwardlooking statements in this press release may turn out to be inaccurate. More information about the risks, uncertainties and assumptions affecting the company can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K for the year ended December 31, 2020 and in other filings we make with theSecurities and Exchange Commission. We have based any forwardlooking statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, operating results, business strategy and financial needs. All forwardlooking statements are necessarily only estimates and actual events may differ materially from our current expectations. You are, therefore, cautioned not to place undue reliance on such statements. 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 Treasuryjohn.swenson@nationalmi.com(510) 788-8417