NMI Holdings Inc

Good day and welcome to the NMI Holdings Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. Should you need 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 under such tone phone. 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 John Swenson, NMI Management. Please go ahead.

Thank you, Operator. Good afternoon and welcome to the 2024 Third Quarter Conference Call for National MI. I'm John Swenson, Vice President of Investor Relations and Treasury. Joining us on the call today are Brad Schuster, Executive Chairman, Adam Politzer, President and Chief Executive Officer, and Aurora Swithinbank, our Chief Financial Officer. The initial 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 from those discussed on the call can be found on our website, or through our regulatory filings with the SDC. Given 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 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. I'm pleased to report that in the third quarter, National MI again delivered strong 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 third quarter, we generated $12.2 billion of NIW volume, ending the period with a record $207.5 billion of high-quality, high-performing insurance and force. In Washington, our conversations remain active and constructive And we believe there is broad recognition in D.C. about the value that the private mortgage insurance industry provides, offering borrowers down payment support and efficient access to mortgage credit while also placing private capital in front of the taxpayer to absorb risk and loss in a downturn. At National MI, we recognize the need to provide borrowers with a fair and sustainable opportunity to access the housing market, establish a community identity, and build long-term wealth through home ownership. And we are proud to have helped nearly 2 million borrowers to date. Overall, we had a terrific third quarter and are well-positioned to continue to lead with impact and drive value for our people our customers and their borrowers, and our shareholders going forward. With that, let me turn it over to Adam. Thank you, Brad, and good afternoon, everyone.