Financial research concept

Mortgage Insurance Delinquency Rate

Mortgage insurance delinquency rate is the percentage of insured primary loans that are delinquent under the issuer's stated count-based methodology.

By Lee BaileyPublished Sep 24, 2026
Research context

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Research date
Sep 24, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context
18 connected conceptsPart of the reviewed Mortgage Insurance Operating Economics; issuer definitions remain distinct where disclosed.
Company examples
1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.
  1. Why it matters
  2. Investor caution
  3. Part of the Mortgage Insurance Operating Economics
  4. See It in Company Research
  5. Continue Research

mortgage insurance delinquency rate is the percentage of insured primary loans that are delinquent under the issuer's stated count-based methodology.

Why it matters

The rate connects delinquency inventory with the size of the insured-loan book and is a core early credit-performance signal. MGIC reported a 2.43% primary delinquency rate at December 31, 2025, up from 2.40% a year earlier.

Investor caution

A delinquency rate is not a loss ratio or expected claim severity. Cure rates, loan seasoning, geography, borrower equity, foreclosure timing, coverage percentage, and loss mitigation determine how delinquent loans eventually translate into claims and losses.

Primary source: MGIC Investment Corporation 2025 Form 10-K.

Part of the Mortgage Insurance Operating Economics

Connect new insured business, portfolio runoff and persistency, insured exposure, premium yield, credit performance, and PMIERs capital capacity to understand private mortgage-insurance economics.

How the model fits together
  • New business quality and insured-book growth: New insurance written adds insured principal to the portfolio, while cancellations and principal payments reduce the existing book. FICO, LTV, DTI, and purchase mix describe important underwriting characteristics of new business, and the resulting flows determine insurance in force and risk in force without making principal balance equivalent to insured loss exposure.
  • Persistency and premium monetization: Annual persistency describes how much insurance remains from the prior year. In-force portfolio yield measures the underlying direct premium rate on the insured book, total direct premium yield incorporates direct premium adjustments, and net premium yield reflects the additional effect of ceded and assumed premium economics.
  • Credit performance and capital capacity: Insured-loan count is the denominator behind delinquency statistics, delinquent inventory and the delinquency rate show emerging credit stress, and claims received inventory is a later-stage credit measure. PMIERs available assets and excess available assets connect that risk profile to GSE-required capital capacity without equating regulatory eligibility assets with distributable cash.

See It in Company Research

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