Financial Data and Key Metrics Changes - The company reported a GAAP net income of $52.9 million or $0.61 per diluted share, and adjusted net income of $53.4 million or $0.62 per diluted share [15][31] - GAAP return on equity was 15.4% for the quarter, while adjusted return on equity was 15.5% [15][22] - Net premiums earned were $105.9 million, up 5% from $100.7 million in the previous quarter [25] - The loss ratio, defined as claims expense divided by net premiums earned, was 4.7% [30] Business Line Data and Key Metrics Changes - The company achieved record new insurance written (NIW) of $26.4 billion, up 33% from the fourth quarter and 134% compared to the first quarter of 2020 [16][22] - Purchase originations accounted for 68% of the total volume in the quarter [22] - Primary insurance in force was $123.8 billion, up 11% from $111.3 billion at the end of the fourth quarter and up 26% compared to the first quarter of 2020 [23] Market Data and Key Metrics Changes - The company activated 24 new lenders, bringing the total to over 1,200 high-quality originators, including 179 of the top 200 lenders nationwide [17] - The 12-month persistency in the primary portfolio was 52%, down from 56% in the fourth quarter, primarily due to refinancing activity [23] Company Strategy and Development Direction - The company remains focused on helping all lenders equally and supporting borrowers on consistent terms across the market [17] - The strategy includes leveraging technology and digitization to enhance engagement with lenders and deepen customer relationships [19][60] - The company aims to responsibly deploy capital and drive value with consistency over time [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic recovery and the housing market's resiliency, noting that the stress from the COVID pandemic is receding [7][10] - The company anticipates improving credit performance as the broader economy recovers and vaccination efforts continue [29] - Management highlighted the importance of maintaining credit discipline and risk-adjusted returns while navigating the changing market dynamics [19][55] Other Important Information - The company reported total cash and investments of $1.9 billion at quarter end, with shareholders' equity at $1.4 billion, up 14% compared to the first quarter of 2020 [33] - The company completed a $367 million ILN offering, which is its largest to date, providing coverage on risk originated primarily between October 1, 2020, and March 31, 2021 [32] Q&A Session Summary Question: Thoughts on deploying the premier's access over time - The company aims to invest in its core business and write high-quality business expected to generate strong mid-teens returns [39] Question: Updates on pricing trends across the industry - The pricing environment remains constructive, with attractive unit economics and expected returns on new business [40] Question: Drivers of premium yield decline during the quarter - The decline in yield was primarily due to a decrease in cancellation earnings and growth in insurance in force [44] Question: Sustainability of market share growth - The company has built a strong lender base over the years, and digital engagement has significantly contributed to its record NIW [46][47] Question: Expectations for operating expenses - The company expects a modest increase in operating expenses as it continues to invest in growth [51] Question: Impact of new lenders on NIW growth - The activation of new lenders is crucial for success, and the company sees continued opportunities for growth [97]

Financial Performance - Total revenues for Q1 2021 were $115.194 million, an increase of 6.9% from $107.649 million in Q1 2020[21] - Net premiums earned rose to $105.879 million, up 7.3% from $98.717 million in the same period last year[21] - Net income for Q1 2021 was $52.891 million, a decrease of 9.5% compared to $58.271 million in Q1 2020[21] - Basic earnings per share decreased to $0.62 in Q1 2021 from $0.85 in Q1 2020[21] - The company reported a comprehensive income of $7.758 million for Q1 2021, down from $45.447 million in Q1 2020[21] Assets and Liabilities - Total assets increased to $2.188 billion as of March 31, 2021, compared to $2.167 billion at the end of 2020[20] - Total liabilities rose to $807.523 million as of March 31, 2021, up from $797.075 million at the end of 2020[20] - Shareholders' equity increased to $1.380 billion as of March 31, 2021, compared to $1.370 billion at the end of 2020[20] - Cash and cash equivalents decreased to $115.517 million as of March 31, 2021, from $126.937 million at the end of 2020[20] Investment Portfolio - As of March 31, 2021, total investments amounted to $1,831.5 million, with gross unrealized losses of $25.5 million[41] - The amortized cost of total investments as of December 31, 2020, was $1,730.8 million, with a fair value of $1,804.3 million[46] - The investment portfolio had gross unrealized losses of $0.5 million as of December 31, 2020, with $8,000 in an unrealized loss position for over twelve months[47] - As of March 31, 2021, net investment income was $8,814,000, an increase of 8.7% from $8,104,000 in the same period of 2020[50] - The investment portfolio was comprised of 100% fixed income assets, all rated investment grade, with an average rating of "A+" and an aggregate unrealized gain position of $16 million as of March 31, 2021[171] Reinsurance and Risk Management - The company has four outstanding quota share reinsurance treaties, with the 2021 QSR Transaction ceding 22.5% of the risk on eligible policies written in 2021[89] - NMIC ceded aggregate premiums to the Oaktown Re Vehicles of $9.4 million for the three months ended March 31, 2021, compared to $3.9 million for the same period in 2020, reflecting an increase of 141%[76] - The company established lower reserves for defaults connected to the COVID-19 outbreak, reflecting expectations of higher cure rates due to forbearance and assistance programs[102] - The company did not recognize any allowance for credit loss with respect to its reinsurance recoverables as of March 31, 2021[96] Market Conditions and Economic Impact - The path of global economic recovery remains uncertain, impacting the mortgage insurance market and business performance[32] - The company updated its underwriting guidelines and policy pricing due to increased macroeconomic volatility caused by COVID-19[31] - The U.S. mortgage insurance industry new insurance written (NIW) volume reached record levels following the onset of the COVID pandemic[141] Customer and Loan Metrics - As of March 31, 2021, total insurance-in-force (IIF) was $125.4 billion, with primary IIF at $123.8 billion[126] - The default rate for the company's primary insured portfolio was 2.5% as of March 31, 2021, with 11,090 defaulted loans out of 436,652 total policies in force[148] - The company reported a decline in the default population from a peak of 13,765 loans in September 2020 to 10,060 loans by April 30, 2021, reflecting a default rate of 2.24%[150] - The primary new insurance written (NIW) for the three months ended March 31, 2021, was $26,397 million, compared to $11,297 million for the same period in 2020, indicating a significant increase of 134%[210] Compliance and Regulatory Matters - The company maintained compliance with all covenants under the 2020 Revolving Credit Facility, including a maximum debt-to-total capitalization ratio of 35%[71] - The company expects to remain compliant with PMIERs asset requirements, with a $549 million excess available asset position as of March 31, 2021[162] Operational Highlights - The company activated its disaster continuity program in response to COVID-19 to ensure business operations continued without interruption[31] - The company introduced a proprietary risk-based pricing platform, Rate GPS, to enhance its ability to evaluate and price risk, which is now used for most new business[176]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36174 NMI Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 45-4914248 (State or other jurisdiction of i ...

NMI Holdings, Inc. (NASDAQ:NMIH) Q4 2020 Earnings Conference Call February 16, 2021 5:00 PM ET Company Participants John Swenson - Vice President of Investor Relations and Treasury Bradley Shuster - Executive Chairman Claudia Merkle - Chief Executive Officer Adam Pollitzer - Executive Vice President and Chief Financial Officer Julie Norberg - Senior Vice President and Controller Conference Call Participants Mark DeVries - Barclays Bank PLC Richard Shane - JPMorgan Chase & Co. Douglas Harter - Credit Suisse ...

NMI Holdings, Inc. (NASDAQ:NMIH) Q3 2020 Earnings Conference Call November 5, 2020 5:00 PM ET Company Participants John Swenson - Vice President, Investor Relations & Treasury Brad Shuster - Executive Chairman Claudia Merkle - Chief Executive Officer Adam Pollitzer - Chief Financial Officer Julie Norberg - Controller Conference Call Participants Mark DeVries - Barclays Rick Shane - JPMorgan Sam Choe - Credit Suisse Tommy McJoynt - KBW Jack Micenko - SIG Geoffrey Dunn - Dowling & Partners Mark Hughes - Trui ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-36174 NMI Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 45-4914248 (State or ...

NMI Holdings, Inc. (NASDAQ:NMIH) Q2 2020 Results Conference Call August 5, 2020 5:00 PM ET Company Participants John Swenson - VP, IR and Treasury Brad Shuster - Brad Shuster Claudia Merkle - CEO Adam Pollitzer - CFO Julie Norberg - Controller Conference Call Participants Douglas Harter - Credit Suisse Mark DeVries - Barclays Bose George - KBW Jack Micenko - SIG Rick Shane - JPMorgan Mark Hughes - Truist Securities Geoffrey Dunn - Dowling & Partners Phil Stefano - Deutsche Bank Bose George - KBW Operator La ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-36174 NMI Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 45-4914248 (State or other ...

NMI Holdings, Inc. (NASDAQ:NMIH) Q1 2020 Earnings Conference Call May 6, 2020 5:00 PM ET Company Participants John Swenson - Vice President of Investor Relations and Treasury Bradley Shuster - Executive Chairman Claudia Merkle - Chief Executive Officer and Director Adam Pollitzer - Executive Vice President and Chief Financial Officer Conference Call Participants Mark DeVries - Barclays Bank PLC Bose George - Keefe, Bruyette, & Woods, Inc. Douglas Harter - Credit Suisse AG Christopher Gamaitoni - Compass Poi ...

HOLDINGS, INC. ■■ INVESTOR DAY 2019 Cautionary Note Regarding Forward-Looking Statements and the Use of Non-GAAP Financial Measures During the course of this 2019 Investor Day discussion, we may make comments about our expectations for the future. Actual results could differ materially from those contained in these forward-looking statements. Additional information about the factors that could cause actual results or trends to differ materially from those discussed today can be found on page 74 of this deck ...