NMI Holdings Inc

Good day and welcome to the NBI Holdings first quarter 2024 earnings conference call. All participants will be in listen-only mode. Should you need any assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. John Swanson. Please go ahead.

Thank you. Good afternoon and welcome to the 2024 first quarter conference call for National MI. I'm John Swanson, Vice President of Investor Relations and Treasury. Joining us on the call today are Brad Schuster, Executive Chairman, Adam Pulitzer, President and Chief Executive Officer, Ravi Malela, Chief Financial Officer, Andrew Greenberg, our Senior Vice President of Finance, 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 and those discussed on the call can be found on our website or through our regulatory filings at 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've provided a reconciliation of these measures to the most comparable measures under GAAP. Now I'll turn the call over to Brad.

Thank you, John, and good afternoon, everyone. As we talk today, I'm greatly encouraged both by the continued resilience that we see in the broader macro environment and housing market and by the significant and consistent success we're achieving across our business In the first 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 first quarter, we generated $9.4 billion of NIW volume, ending the period with a record $199.4 billion of high-quality, high-performing primary insurance and force. In Washington, our conversations remain active and constructive. Policymakers, regulators, the FHFA, and the GSEs remain keenly focused on promoting broader access and affordability to the housing market for all borrowers and we believe there is broad recognition of the unique and valuable role that the private mortgage insurance industry plays in this regard. At National MI, we recognize the need to provide borrowers with a fair and equitable opportunity to access the housing market, establish a community identity, and build long-term wealth through homeownership. We are actively engaged and committed to equally supporting borrowers from all communities and are proud to have helped nearly 1.8 million borrowers to date realize their home ownership goals. Overall, we had a terrific first quarter and are well positioned to continue to lead with impact and drive value for our people, our customers and the borrowers, and our shareholders going forward. With that, let me turn it over to Adam.