ThesisNMI: the story is balanced — Primary mortgage insurance in-force (IIF) growth and persistency rates - reflects new business production and portfolio…
value - The stock trades at 4.3x sales and generates 13.8% FCF yield with 55% net margins…
Rising mortgage rates reduce refinancing activity (eliminating PMI on seasoned loans) but also slow prepayments…
Watch on earnings: S&P/Case-Shiller Home Price Index (national and regional) - primary driver of loss severity, 30-year fixed mortgage rates - affects origination volumes and affordability, Unemployment rate - strongest predictor of mortgage default frequency.
One Sentence Summary:
NMI: the story is balanced — primary mortgage insurance in-force (iif) growth and persistency rates - reflects new business production and portfolio runoff dynamics.
Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.