NMIH — what changed in the latest 10-Q
A section-by-section comparison of NMIH's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-31 vs the prior 10-Q · 2026-05-01
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +40 | −26 | ~40 | 86 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~4 | 7 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 3 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-31
In April 2026, the GSEs began accepting mortgage loans evaluated using the VantageScore 4.0 credit scoring framework as an alternative to FICO scores from a limited number of approved lenders. During the second quarter of 2026, we insured a small number of loans evaluated using the VantageScore 4.0 …
As of and for the three months ended June 30,As of and for the six months ended June 30,
NIW increased 29% and 31%, respectively, during the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, due to growth in our customer franchise and market presence tied to the increased penetration of existing customer accounts and new customer activati…
Primary IIF increased 6% at June 30, 2026 compared to June 30, 2025, primarily due to the NIW generated between such measurement dates, partially offset by the run-off of in-force policies. Our persistency rate was 81.4% at June 30, 2026 compared to 84.1% at June 30, 2025.
For the three months ended June 30,For the six months ended June 30,
Text removed vs the prior filing · source: 10-Q · 2026-05-01
premiums are recognized in the month billed and when the coverage is effective. Annual premiums are earned on a straight-line basis over the year of coverage. Substantially all of our policies provide for either single or monthly premiums.
NIW increased 33% during the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to growth in our customer franchise and market presence tied to the increased penetration of existing customer accounts and new customer activations, as well as an increase…
Primary IIF increased 5% at March 31, 2026 compared to March 31, 2025, primarily due to the NIW generated between such measurement dates, partially offset by the run-off of in-force policies. Our persistency rate was 82.2% at March 31, 2026 compared to 84.3% at March 31, 2025.
Net premiums written increased 6% during the three months ended March 31, 2026 compared to the three months ended March 31, 2025. Net premiums earned increased 4% during the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The growth in net premiums written and ea…
Cancellations, principal repayments and other reductions(11,389)(8,096)
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice