NMI Holdings Inc - Class A

NMI Holdings, Inc. (NASDAQ: NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based private mortgage insurance company. National MI enables low down payment borrowers to achieve homeownership while protecting lenders and investors against losses related to borrower defaults. The company writes primary mortgage insurance on residential mortgage loans, with an insured portfolio of over $227 billion in insurance-in-force. Its risk management framework includes quota-share reinsurance transactions, excess-of-loss reinsurance, and insurance-linked note transactions. The company operates exclusively in the U.S. mortgage insurance market, competing with other private mortgage insurers and government mortgage insurers such as the FHA, USDA Rural Housing Service, and VA. National MI's portfolio is heavily weighted toward purchase originations and fixed-rate mortgages, with a high weighted average credit score and geographic diversification across all 50 states. Updated Jul 30, 2026