National MI Named to San Francisco Business Times’ Top Middle Market Companies List
Private mortgage insurer recognized on list of the Bay Area’s fastest-growing mid-sized companies for second consecutive year
EMERYVILLE, Calif., July 01, 2021 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), the primary operating subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), has been named to the San Francisco Business Times’ Middle Market 75 List of the fastest-growing mid-sized companies in the Bay Area. National MI ranked 34 out of 75 companies on the list, which are headquartered in Alameda, Contra Costa, Marin, San Francisco and San Mateo counties.
The Middle Market 75 List is comprised of public and privately held companies with annual revenue between $25 million and $1 billion for 2018, 2019 and 2020. National MI’s revenue increased from $275.03 million in 2018 to $433.28 million in 2020, representing a revenue increase of 57.54 percent.
“It’s an honor to make the San Francisco Business Times’ Middle Market 75 List,” said Claudia Merkle, CEO of National MI. “Our success is reflected in the growth we’ve achieved over the past several years as we work to help more people achieve homeownership. In 2020 we helped over 250,000 borrowers become homeowners. Our achievements are due to the hard work and dedication of our employees.”
In the methodology used by the San Francisco Business Times, firms were ranked by weighted scores that took into account the percent change in revenue between 2018 and 2020 and the actual value difference in revenue during the same time period.
“In 2020, we expanded our customer franchise, delivered record NIW volume, grew our high-quality insured portfolio and balance sheet and delivered significant profitability, all while adjusting to the impact of COVID throughout the year,” Merkle said.
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.
John M. Swenson
Vice President, Investor Relations and Treasury
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/39ea5378-7d4b-41b7-8239-0108507783c2