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[STK] NASDAQ-NMS:NMIH
[IN] FIN INS
[SU]
-- WITH PHOTO -- TO BUSINESS EDITORS:
National MI Approved to Write Mortgage Insurance in All 50 States and
District of Columbia
EMERYVILLE, Calif., April 16, 2014 /PRNewswire/ -- NMI Holdings, Inc.,
(NASDAQ: NMIH) the parent company of National Mortgage Insurance
Corporation (National MI), announces today that National MI's
application for an insurance license in Wyoming has been approved by
the Wyoming Department of Insurance. With Wyoming's approval, National
MI is now licensed to write mortgage guaranty insurance in all 50 U.S.
states and the District of Columbia.
"We are pleased that National MI is able to provide mortgage insurance
to lenders offering loans to borrowers in Wyoming," said Bradley
Shuster, president and chief executive officer of NMI Holdings, Inc.
"The approval by the Wyoming Department of Insurance marks a
significant milestone for National MI as we are now able to provide
mortgage insurance in every state in the U.S., as well as the District
of Columbia. We believe this is especially important to our customers
who do business nationwide."
By approving National MI as a licensed insurer in the state of
Wyoming, National MI believes the Wyoming Department of Insurance is
helping to expand the availability of mortgage financing, particularly
for first-time homeowners who might not have a 20 percent down
payment, Shuster noted. Private mortgage insurance is typically
required on mortgages with a loan-to-value (LTV) ratio greater than 80
percent.
"National MI commends the Wyoming Department of Insurance for
acknowledging the importance of private mortgage insurance and the
role it plays in broadening home ownership opportunities for
Americans," Shuster said.
National MI received approval from Fannie Mae and Freddie Mac in
January 2013.
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of
NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage
insurance company enabling low down payment borrowers to realize home
ownership while protecting lenders and investors against losses
related to a borrower's default. To learn more, please visit
www.nationalmi.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statements about our
expectations, beliefs, plans, predictions, forecasts, objectives,
assumptions or future events or performance are not historical facts
and may be forward-looking. These statements are often, but not
always, made through the use of words or phrases such as "anticipate,"
"believes," "can," "could," "may," "predicts," "potential," "should,"
"will," "estimate," "plans," "projects," "continuing," "ongoing,"
"expects," "intends" and similar words or phrases. All
forward-looking statements are only predictions and involve estimates,
known and unknown risks, assumptions and uncertainties that could
cause actual results to differ materially from those expressed in
them. Many risks and uncertainties are inherent in our industry and
markets. Others are more specific to our business and operations.
These risks and uncertainties include, but are not limited to, those
set forth under the heading "Risk Factors" in our most recent
Registration Statement on Form S-1, and described from time to time in
subsequent reports, filed with the U.S. Securities and Exchange
Commission, including in our Annual Report on Form 10-K, which was
filed on March 12, 2014. Any or all of our forward-looking statements
in this press release may turn out to be inaccurate. Consequently,
our actual results could differ materially from those anticipated in
such forward-looking statements contained in this press release. Any
forward-looking statement speaks only as of the date on which it is
made and we undertake no obligation to update or revise any
forward-looking statement to reflect events or circumstances after the
date on which the statement is made or to reflect the occurrence of
unanticipated events except as required by law.
Press Contact Mary McGarity Strategic Vantage Marketing & Public
Relations MaryMcGarity@StrategicVantage.com (203)513-2721
Logo - http://photos.prnewswire.com/prnh/20130731/FL56494LOGO
SOURCE NMI Holdings, Inc.
-0- 04/16/2014
/Photo: http://photos.prnewswire.com/prnh/20130731/FL56494LOGO
(NASDAQ-NMS:NMIH) /
CO: NMI Holdings, Inc.; Wyoming Department of Insurance; National Mortgage Insurance Corporation
ST: Wyoming California
IN: FIN INS
PRN
-- FL06919 --
0000 04/16/2014 17:16:00 EDT http://www.prnewswire.com
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