NMI Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 02, 2022 at 04:05 pm EDT
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NMI Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported revenue was USD 132.22 million compared to USD 120.77 million a year ago. Net income was USD 75.44 million compared to USD 57.52 million a year ago. Basic earnings per share from continuing operations was USD 0.88 compared to USD 0.67 a year ago. Diluted earnings per share from continuing operations was USD 0.86 compared to USD 0.65 a year ago.
For the six months, revenue was USD 259.66 million compared to USD 235.96 million a year ago. Net income was USD 143.12 million compared to USD 110.41 million a year ago. Basic earnings per share from continuing operations was USD 1.67 compared to USD 1.29 a year ago. Diluted earnings per share from continuing operations was USD 1.63 compared to USD 1.27 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. 
