NMI Holdings, Inc. (NASDAQ:NMIH) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET

Company Participants

John Swenson - VP, IR and Treasury

Bradley Shuster - Executive Chairman

Adam Pollitzer - President and CEO

Ravi Mallela - CFO

Conference Call Participants

Rick Shane - JPMorgan

Bose George - KBW

Max Mosbacher - Truist Securities

Eric Hagen - BTIG

Daniel Eisen - Bank of America

Geoffrey Dunn - Dowling

Operator

Good day, and welcome to the NMI Holdings Third Quarter 2023 Earnings Conference Call. After today's presentation, there'll be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Mr. John Swenson. Please go ahead.

John Swenson

Thank you, operator. Good afternoon, and welcome to the 2023 third quarter conference call for National MI. I'm John Swenson, Vice President of Investor Relations and Treasury. Joining us on the call today are Brad Shuster, Executive Chairman; Adam Pollitzer, President and Chief Executive Officer; Ravi Mallela, Chief Financial Officer; and Nick Realmuto, our Controller.

Financial results for the quarter were released after the close today. The press release may be accessed on NMI's website located at nationalmi.com under the Investors tab. During the course of this call, we may make comments about our expectations for the future. Actual results could differ materially from those contained in these forward-looking statements.

Additional information about the factors that could cause actual results or trends to differ materially from those discussed on the call can be found on our website or through our regulatory filings with the SEC. If and to the extent the Company makes forward-looking statements, we do not undertake any obligation to update those statements in the future in light of subsequent developments. Further, no one should rely on the fact that the guidance of such statements is current at any time other than the time of this call.

Also note that on this call, we may refer to certain non-GAAP measures. In today's press release and on our website, we provided a reconciliation of these measures to the most comparable measures under GAAP.

Now I'll turn the call over to Brad.

Bradley Shuster

Thank you, John, and good afternoon, everyone.

I'm pleased to report that in the third quarter, National MI again delivered standout operating performance, continued growth in our insured portfolio, and record financial results. Our lenders and their borrowers continued to turn to us for critical down payment support. And in the third quarter, we generated $11.3 billion of NIW volume, ending the period with a record $194.8 billion of high-quality, high-performing insurance-in-force.