Earnings Releases·Nov 5, 2026, 4:06 PM ET

NMI Holdings, Inc. — Third Quarter 2026 Earnings Summary

Net income declined to $93.5 million ($1.23 diluted EPS) from $105.8 million in Q2 2026 and $96.0 million in Q3 2025, driven by a significant increase in the loss ratio to 18.7% from 8.3% in the prior quarter and 12.3% year-over-year.
Revenue remained relatively flat at $187.6 million, while new insurance written decreased to nearly $13.6 billion from $16.1 billion in Q2 2026, though primary insurance-in-force grew to $229.7 billion.
The company returned $27.1 million to shareholders via share repurchases during the quarter, bringing total repurchase activity to $435 million since inception.
Balance sheet strength was maintained with total assets reaching $4.0 billion and book value per share excluding net unrealized gains rising 14% to $38.13 compared to Q3 2025.
No specific forward guidance, M&A activity, or strategic shifts were disclosed in the summary; the outlook is characterized by a 1.23% default rate and 80.8% annual persistency.