38.87
-0.41%
Close of 9 Nov 2026, in USD
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About NMI Holdings
From its filings with the US Securities and Exchange Commission
NMI Holdings is based in Emeryville, California and is incorporated in California. Its shares trade on Nasdaq under the ticker NMIH. The SEC classifies its business as surety insurance. In the fiscal year to 31 December 2025, it reported revenue of $706.4m and net income of $388.9m. At that date it held total assets of $3.84bn and shareholders' equity of $2.59bn.
NMIH, a Delaware corporation, was incorporated in May 2011, and we began start-up operations in 2012 and wrote our first MI policy in 2013. Since formation, we have sought to establish customer relationships with a broad group of mortgage lenders and build a diversified, high-quality insured portfolio. As of December 31, 2025, we had issued master policies with 2,193 customers, including national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders and other non-bank lenders. As of December 31, 2025, we had $221.4 billion of primary IIF and $59.3 billion of primary RIF. For the year ended December 31, 2025, we generated NIW of $48.9 billion. As of December 31, 2025, we had 225 full-time and part-time employees.
We believe that our success in acquiring a large and diverse group of lender customers and growing a portfolio of high-quality IIF traces to our founding principles, whereby we aim to help qualified borrowers achieve their homeownership goals, ensure that we remain a strong and credible counter-party, deliver a high-quality customer service experience, establish a differentiated risk management approach, utilize our proprietary Rate GPS® pricing platform to dynamically evaluate risk and price our policies, and foster a culture of collaboration and excellence that helps us attract and retain experienced industry leaders.
Quoted from its 10-K, filed 12 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Thrifts & Mortgage Finance
- Listed since
- 8 Nov 2013
- Employees
- 225
- Website
- nationalmi.com ↗
- Head office
- 2100 POWELL STREET, 12TH FLOOR, EMERYVILLE, CA, 94608
- Incorporated in
- CA
- Classification
- Surety Insurance
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Bradley ShusterExecutive Chairman of the Board, since 2012$3.1m
- Mr. Adam PollitzerPresident, Chief Executive Officer, Director$9.0m
- Ms. Aurora SwithenbankChief Financial Officer, Executive Vice President$3.8m
- Mr. Mohammad YousafExecutive Vice President, Chief of Operations and Technology
- Mr. William LeatherberryExecutive Vice President, Chief Administrative Officer, General Counsel, Secretary$3.0m
- Mr. Robert SmithExecutive Vice President, Chief Risk Officer$2.4m
- Mr. Norman FitzgeraldExecutive Vice President, Chief Sales Officer
- Mr. Steven ScheidLead Independent Director$302,890
- Mr. Michael EmblerIndependent Director$274,978
- Mr. John EricksonIndependent Director$249,978
- Ms. Priya HuskinsIndependent Director$249,978
- Ms. Lynn MccrearyIndependent Director$269,978
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 50
- Environment
- 17
- Social
- 74
- Governance
- 61
- Direct emissions (scope 1)
- 0 t
- Energy emissions (scope 2)
- 100 t
- Women in the workforce
- 55%
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Strong Financial Position: NMI Holdings Inc possesses a solid financial standing with a healthy balance sheet and steady revenue growth, which provides stability and resilience.
- Market Leadership: The company is a recognized leader in the mortgage insurance industry, holding a considerable market share and benefiting from economies of scale.
- Innovation and Technology: NMI Holdings Inc invests in advanced technology solutions, enabling efficient and streamlined processes, enhancing customer experience, and gaining a competitive edge.
Weaknesses
- Dependency on Economic Conditions: NMI Holdings Inc's performance is closely tied to the overall economic health, particularly the mortgage market. Downturns or recessionary periods can significantly impact the company's revenue and profitability.
- Narrow Product Portfolio: The company primarily focuses on mortgage insurance and lacks diversification into other financial services or insurance lines, limiting potential revenue streams.
- Dependency on Regulatory Approvals: NMI Holdings Inc operates in a highly regulated industry and is subject to changes in regulations and government policies. Delays or difficulties in obtaining necessary approvals can hinder business operations.
Opportunities
- Tapping into Growing Mortgage Market: With increasing homeownership rates and a positive outlook for the mortgage industry, NMI Holdings Inc can expand its market share and benefit from higher demand for mortgage insurance.
- Expansion into Adjacent Markets: Exploring opportunities in related sectors such as mortgage servicing or other complementary insurance products can diversify NMI Holdings Inc's revenue streams and mitigate dependence on a single line of business.
- International Expansion: Considering expansion into international markets with emerging mortgage sectors can provide new growth avenues for NMI Holdings Inc.
Threats
- Intense Market Competition: The mortgage insurance industry is highly competitive, with numerous established players and new entrants. Intensifying competition can lead to price pressures and reduced market share for NMI Holdings Inc.
- Economic and Housing Market Uncertainty: Instabilities in the economy, housing market, or interest rates can impact the demand for mortgage insurance and hinder growth prospects for NMI Holdings Inc.
- Regulatory Compliance Challenges: Existing and evolving regulations, compliance requirements, and potential legal actions pose a constant challenge for NMI Holdings Inc, necessitating dedicated resources and expertise.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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