NMIH Q2 2026: Revenue +8.1% as NIW surges 29%, default rate climbs to 1.16%

Filed July 31, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 30, 2025 · ~2 min read

Key Changes

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  New insurance written jumped 29% in Q2 and 31% in H1 2026 vs. prior year, driven by deeper penetration of existing accounts, new customer activations, and overall market growth. In-force book grew 6% YoY to $227.1B, though persistency fell to 81.4% from 84.1%.

  MD&A: NIW and IIF verify on EDGAR →
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  Default rate rose to 1.16% (8,020 loans) from 1.00% a year earlier; risk-in-force on defaulted loans climbed 24% to $708M. Claim reserves increased $51.6M (31.6%) to $214.6M, driven by new defaults and aging delinquencies, partially offset by favorable prior-year development.

  MD&A: Credit Performance; Notes: Reserves verify on EDGAR →
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  Fitch upgraded NMIC's financial strength rating to 'A' from 'A-' and the 2024 Notes to 'BBB' from 'BBB-'; Moody's outlook shifted to positive. Upgrades reflect improved credit quality and financial strength, potentially lowering borrowing costs.

  MD&A: Ratings verify on EDGAR →