NMI Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 01, 2023 at 09:05 pm
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NMI Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 142.69 million compared to USD 132.22 million a year ago. Net income was USD 80.28 million compared to USD 75.44 million a year ago. Basic earnings per share from continuing operations was USD 0.97 compared to USD 0.88 a year ago. Diluted earnings per share from continuing operations was USD 0.95 compared to USD 0.86 a year ago.
For the six months, revenue was USD 279.46 million compared to USD 259.66 million a year ago. Net income was USD 154.74 million compared to USD 143.12 million a year ago. Basic earnings per share from continuing operations was USD 1.86 compared to USD 1.67 a year ago. Diluted earnings per share from continuing operations was USD 1.83 compared to USD 1.63 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. 
