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Loss Ratio
Claims and loss-related costs expressed as a share of earned premiums, indicating how costly defaults are relative to the company’s revenue. A persistently high or rising loss ratio reduces profitability and may signal worsening credit quality in the insured mortgage book.The loss ratio has shifted from low/negative readings into a sustained, higher regime since 2024, signaling credit normalization as management noted rising defaults, larger reserves per notice and higher claims. Management’s emphasis on disciplined pricing, risk selection and reinsurance — plus strong capital and PMIERs excess — should blunt downside, but rising reserve needs, lower profit commissions and slightly weaker persistency mean underwriting margins will likely remain pressured; monitor default counts, reserve per NOD, and reinsurance costs for signs of stabilization or further deterioration.
Date | Loss Ratio |
|---|---|
Jun 30, 2026 | 8.30 |
Mar 31, 2026 | 13.30 |
Dec 31, 2025 | 13.90 |
Sep 30, 2025 | 12.30 |
Jun 30, 2025 | 9.00 |
Mar 31, 2025 | 3.00 |
Dec 31, 2024 | 12.00 |
Sep 30, 2024 | 7.20 |
Jun 30, 2024 | 0.20 |
Mar 31, 2024 | 2.70 |