NMI Holdings, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 04, 2022 at 04:05 pm EDT
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NMI Holdings, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported revenue was USD 127.44 million compared to USD 115.19 million a year ago. Net income was USD 67.68 million compared to USD 52.89 million a year ago. Basic earnings per share from continuing operations was USD 0.79 compared to USD 0.62 a year ago. Diluted earnings per share from continuing operations was USD 0.77 compared to USD 0.61 a year ago.
NMI Holdings, Inc. provides mortgage insurance (MI) through its wholly owned insurance subsidiaries, National Mortgage Insurance Corporation (NMIC) and National Mortgage Reinsurance Inc One (Re One). NMIC is its primary insurance subsidiary and is licensed to write MI coverage in all 50 states and District of Columbia (D.C.). Its subsidiary, NMI Services, Inc. (NMIS), provides outsourced loan review services to mortgage loan originators. It offers two principal types of MI coverage, primary and pool. Primary MI provides default protection on individual mortgage loans at specified coverage percentages. All its primary insurance is written on first-lien mortgage loans, with nearly all secured by owner-occupied single-family homes (defined as one-to-four family homes and condominiums). Pool insurance is generally used to provide additional credit enhancement for certain secondary market mortgage transactions. It offers outsourced loan review services to mortgage originators through NMIS.
NMI HOLDINGS, INC. 
