NMI Holdings, Inc.NMIH
What NMI Holdings, Inc. does.
We provide mortgage insurance (referred to as mortgage insurance or MI) through our wholly-owned insurance subsidiaries, NMIC and Re One. NMIC and Re One are domiciled in Wisconsin and principally regulated by the Wisconsin OCI. NMIC is our primary insurance subsidiary, and is approved as an MI provider by the GSEs and is licensed to write MI coverage in all 50 states and D.C. Our subsidiary, NMIS, provides outsourced loan review services to mortgage loan originators and our subsidiary, Re One, historically provided reinsurance coverage to NMIC in accordance with certain statutory risk retention requirements. Such requirements have been repealed and the reinsurance coverage provided by Re One to NMIC has been commuted. Re One remains a wholly-owned, licensed insurance subsidiary; however, it does not currently have active insurance exposures.
MI protects lenders and investors from default-related losses on a portion of the unpaid principal balance of a covered mortgage. MI plays a critical role in the U.S. housing market by mitigating mortgage credit risk and facilitating the secondary market sale of high-LTV ( i.e., above 80%) residential loans to the GSEs, who are otherwise restricted by their charters from purchasing or guaranteeing high-LTV mortgages that are not covered by certain credit protections. Such credit protection and secondary market sales allow lenders to increase their capacity for mortgage commitments and expand financing access to existing and prospective homeowners.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $433.3M | $485.1M | $523.3M | $579.0M | $651.0M | $706.4M |
| Net income | $171.6M | $231.1M | $292.9M | $322.1M | $360.1M | $388.9M |
| Free cash flow | $240.4M | $313.5M | $302.8M | $333.3M | $386.7M | $412.5M |
More on NMIH.
- NMI Holdings, Inc. summary
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- NMI Holdings, Inc. earnings
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- NMI Holdings, Inc. valuation
- NMI Holdings, Inc. ownership and insiders
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Figures from NMI Holdings, Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.