Press Release

National Mortgage Insurance Corporation Receives Investment Grade Rating From Standard & Poor's
Jul 21, 2015

EMERYVILLE, Calif., July 21, 2015 /PRNewswire/ -- NMI Holdings, Inc., (Nasdaq: NMIH), the parent company of National Mortgage Insurance Corporation (National MI), today announced that Standard & Poor's (S&P) Ratings Services assigned its "BBB-" financial strength and long-term counterparty credit ratings to National Mortgage Insurance Corp.   At the same time, S&P assigned its "BB-" long-term counterparty credit rating to NMI Holdings, Inc.  The outlook for both companies is "stable."  National MI is one of only four private mortgage insurers to receive an investment grade rating from S&P.

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 is approved to provide mortgage insurance nationwide. To learn more about National MI, visit www.nationalmi.com ( http://www.nationalmi.com ).

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

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding National MI's positioning for future performance. More information about the risks, uncertainties and assumptions affecting National MI can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.

Investor Contact
John M. Swenson
Vice President, Investor Relations and Treasury
(510)788-8417
john.swenson@nationalmi.com

Media Contact
Mary McGarity
Strategic Vantage Mortgage Public Relations
(203)513-2721
MaryMcGarity@StrategicVantage.com 

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SOURCE NMI Holdings, Inc.

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