MTG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-11-04

• Executive Order on Decreasing Housing Costs for the American People

• In October 2026, the President signed an Executive Order under which the FHFA Director shall, if he determines that doing so is in the best interests of the GSEs, FHFA, and the American public, direct the GSEs to establish a pilot program, applicable only to mortgages made after the establishment of…

• In recent years, the FHFA and the GSEs have undertaken initiatives to modernize the credit scoring framework used in mortgage underwriting and securitization. In June 2025, the FHFA directed the GSEs to adopt updated credit scoring models, including VantageScore 4.0 and FICO Score 10T, as part of a …

• While we have information security policies and systems in place to secure our information technology systems and to prevent unauthorized access to or disclosure of sensitive information, there can be no assurance with respect to our systems and those of our third-party vendors that unauthorized acc…

• third parties or employees, will not occur. Due to our reliance on information technology systems, including ours and those of our customers and third-party service providers, and to the sensitivity of the information that we maintain, unauthorized access to the systems or disclosure of the informat…

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• In recent years, the FHFA and the GSEs have undertaken initiatives to modernize the credit scoring framework used in mortgage underwriting and securitization. In June 2025, the FHFA directed the GSEs to adopt updated credit scoring models, including VantageScore 4.0 and FICO Score 10T, as part of a …

• While we have information security policies and systems in place to secure our information technology systems and to prevent unauthorized access to or disclosure of sensitive information, there can be no assurance with respect to our systems and those of our third-party vendors that unauthorized acc…

• The amount of our IIF and RIF is impacted by the amount of NIW, cancellations, and principal payments received on our primary IIF during the period. Cancellation activity is impacted by refinancing activity, policies cancelled when borrowers achieve the required amount of home equity, and cancellati…

• Our 2009 and later books possess significantly improved risk characteristics when compared to our 2005-2008 books. We believe changes such as more rigorous underwriting standards, higher quality credit profiles, strengthened mortgage loan servicing and government support to help borrowers stay in th…

• Our Annual Persistency was 83.3% at June 30, 2026 compared with 84.7% at June 30, 2025. Since 2018, our Annual Persistency ranged from a high of 86.3% at September 30, 2023 to a low of 60.7% at March 31, 2021. Our persistency rate is primarily affected by the level of current mortgage interest rates…

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• An outbreak of the novel coronavirus disease, later named COVID-19. The outbreak of COVID-19 was declared a pandemic by the World Health Organization and a national emergency in the United States in March 2020.

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• An outbreak of the novel coronavirus disease, later named COVID-19. The outbreak of COVID-19 was declared a pandemic by the World Health Organization and a national emergency in the United States in March 2020.

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• An outbreak of the novel coronavirus disease, later named COVID-19. The outbreak of COVID-19 was declared a pandemic by the World Health Organization and a national emergency in the United States in March 2020.

Text added vs the prior filing · source: 10-Q · 2026-11-04

• The following is intended to update and supplement the risk factors previously disclosed in Part I, Item 1A, "Risk Factors," of our Annual Report on Form 10-K for the year ended December 31, 2025. In addition to the information in this report, you should review the risk factors outlined in that Repo…

• Risk Factors Relating to the Mortgage Insurance Industry and its Regulation

• Changes in the business practices of Fannie Mae and Freddie Mac ("the GSEs"), federal legislation that changes their charters or a restructuring of the GSEs could reduce our revenues or increase our losses.

• The substantial majority of our new insurance written ("NIW") is for loans purchased by the GSEs; therefore, the business practices of the GSEs greatly impact our business. The GSEs possess substantial market power, which enables them to influence our business and the mortgage insurance industry in …

• Changes in the status, powers, or supervision of the GSEs, whether through legislation or administrative action, that impact private mortgage insurers could have an adverse effect on our business, revenue, results of operations and financial condition. Business practices of the GSEs that affect the …

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• The percentage of our insurance remaining in force from one year prior.

• Assets, as designated under the PMIERs, that are readily available to pay claims, and include the most liquid investments

• An outbreak of the novel coronavirus disease, later named COVID-19. The outbreak of COVID-19 was declared a pandemic by the World Health Organization and a national emergency in the United States in March 2020.

• A measure of consumer credit risk produced using credit scoring methodologies and data collected by the credit bureaus.

• Credit risk transfer. The transfer of a portion of mortgage credit risk to the private sector through different forms of transactions and structures.

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• An outbreak of the novel coronavirus disease, later named COVID-19. The outbreak of COVID-19 was declared a pandemic by the World Health Organization and a national emergency in the United States in March 2020.