April 16, 2014

National MI Approved to Write Mortgage Insurance in All 50 States and District of Columbia

Approval by the Wyoming Department of Insurance marks the 50th and final state approval for mortgage insurer

EMERYVILLE, Calif., April 16, 2014 /PRNewswire/ -- NMI Holdings, Inc., (NASDAQ:  NMIH) the parent company of National Mortgage Insurance Corporation (National MI), announces today that National MI's application for an insurance license in Wyoming has been approved by the Wyoming Department of Insurance. With Wyoming's approval, National MI is now licensed to write mortgage guaranty insurance in all 50 U.S. states and the District of Columbia. 

Founded in 2012, National Mortgage Insurance Corporation (National MI) is headquartered in Emeryville, California, in the San Francisco Bay Area. NMI Holdings, Inc., National MI's parent company, raised over $500 million of capital in a private placement of its securities in April 2012 and is led by an experienced management team. National MI 
has received approval from Fannie Mae and Freddie Mac as a qualified mortgage insurer, and has been approved to provide mortgage insurance...

"We are pleased that National MI is able to provide mortgage insurance to lenders offering loans to borrowers in Wyoming," said Bradley Shuster, president and chief executive officer of NMI Holdings, Inc. "The approval by the Wyoming Department of Insurance marks a significant milestone for National MI as we are now able to provide mortgage insurance in every state in the U.S., as well as the District of Columbia. We believe this is especially important to our customers who do business nationwide."

By approving National MI as a licensed insurer in the state of Wyoming, National MI believes the Wyoming Department of Insurance is helping to expand the availability of mortgage financing, particularly for first-time homeowners who might not have a 20 percent down payment, Shuster noted. Private mortgage insurance is typically required on mortgages with a loan-to-value (LTV) ratio greater than 80 percent.

"National MI commends the Wyoming Department of Insurance for acknowledging the importance of private mortgage insurance and the role it plays in broadening home ownership opportunities for Americans," Shuster said.

National MI received approval from Fannie Mae and Freddie Mac in January 2013.

About National MI

National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. To learn more, please visit www.nationalmi.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking.  These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases.  All forward-looking statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them.  Many risks and uncertainties are inherent in our industry and markets.  Others are more specific to our business and operations.  These risks and uncertainties include, but are not limited to, those set forth under the heading "Risk Factors" in our most recent Registration Statement on Form S-1, and described from time to time in subsequent reports, filed with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K, which was filed on March 12, 2014.  Any or all of our forward-looking statements in this press release may turn out to be inaccurate.  Consequently, our actual results could differ materially from those anticipated in such forward-looking statements contained in this press release.  Any forward-looking statement speaks only as of the date on which it is made and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events except as required by law.

Press Contact
Mary McGarity
Strategic Vantage Marketing & Public Relations
MaryMcGarity@StrategicVantage.com
(203)513-2721

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SOURCE NMI Holdings, Inc.

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