XML 63 R35.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Loss Reserves (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Insurance Loss Reserves [Abstract] |
Reconciliation of beginning and ending loss reserves | Table 8.1 provides a reconciliation of beginning and ending loss reserves for each of the past three years:
| Table | 8.1 |  |  |  |  |  |
Development of reserves for losses and loss adjustment expenses | (In thousands) |  | 2017 |  | 2016 |  | 2015
Reserve at beginning of year |  | $ | 1,438,813 |  |  | $ | 1,893,402 |  |  | $ | 2,396,807 |
Less reinsurance recoverable |  | 50,493 |  |  | 44,487 |  |  | 57,841 |
Net reserve at beginning of year |  | 1,388,320 |  |  | 1,848,915 |  |  | 2,338,966 |
| Losses incurred: |  |  |  |  |  |
| Losses and LAE incurred in respect of delinquent notices received in: |  |  |  |  |  |
| Current year |  | 284,913 |  |  | 387,815 |  |  | 453,849 |
| Prior years (1) |  | (231,204 | ) |  | (147,658 | ) |  | (110,302 | )
| Total losses incurred |  | 53,709 |  |  | 240,157 |  |  | 343,547 |
| Losses paid: |  |  |  |  |  |
| Losses and LAE paid in respect of delinquent notices received in: |  |  |  |  |  |
| Current year |  | 11,267 |  |  | 14,823 |  |  | 25,980 |
| Prior years |  | 493,300 |  |  | 689,258 |  |  | 823,058 |
| Reinsurance terminations (2) |  | 301 |  |  | (3,329 | ) |  | (15,440 | )
| Total losses paid |  | 504,868 |  |  | 700,752 |  |  | 833,598 |
| Net reserve at end of year |  | 937,161 |  |  | 1,388,320 |  |  | 1,848,915 |
| Plus reinsurance recoverables |  | 48,474 |  |  | 50,493 |  |  | 44,487 |
| Reserve at end of year |  | $ | 985,635 |  |  | $ | 1,438,813 |  |  | $ | 1,893,402 |
(1) | A negative number for prior year losses incurred indicates a redundancy of prior year loss reserves. See table 8.2 below for more information about prior year loss development.
(2) | In a termination, the reinsurance agreement is cancelled, with no future premium ceded and amounts for any incurred but unpaid losses paid to us. Amounts paid to (received from) reinsurers result in an increase (decrease) in net losses paid. The change in net losses paid on our losses incurred is offset by a corresponding change in the reinsurance recoverable, resulting in no net impact on losses incurred. (See Note 9 – “Reinsurance”).
Prior year development of the reserves | Table 8.2 below shows the development of reserves in 2017, 2016 and 2015 for previously received delinquencies.
| Table | 8.2 |  |  |  |  |  |
Reserve development on previously received delinquencies | (In millions) |  | 2017 |  | 2016 |  | 2015
Decrease in estimated claim rate on primary delinquencies |  | $ | (248 | ) |  | $ | (148 | ) |  | $ | (141 | )
Increase in estimated severity on primary delinquencies |  | 9 |  |  | 9 |  |  | 43 |
Change in estimates related to pool reserves, LAE reserves, reinsurance and other |  | 8 |  |  | (9 | ) |  | (12 | )
| Total prior year loss development (1) |  | $ | (231 | ) |  | $ | (148 | ) |  | $ | (110 | )
(1) | A negative number for prior year loss development indicates a redundancy of prior year loss reserves.
Rollforward of primary default inventory | A rollforward of our primary delinquent inventory for the years ended December 31, 2017, 2016, and 2015 appears in table 8.3 below. The information concerning new notices and cures is compiled from monthly reports received from loan servicers. The level of new notice and cure activity reported in a particular month can be influenced by, among other things, the date on which a servicer generates its report, the number of business days in a month and transfers of servicing between loan servicers.
| Table | 8.3 |  |  |  |  |  |
Delinquent inventory rollforward |  |  | 2017 |  | 2016 |  | 2015
Delinquent inventory at beginning of year |  | 50,282 |  |  | 62,633 |  |  | 79,901 |
New Notices |  | 68,268 |  |  | 67,434 |  |  | 74,315 |
| Cures |  | (61,094 | ) |  | (65,516 | ) |  | (73,610 | )
| Paids (including those charged to a deductible or captive) |  | (9,206 | ) |  | (12,367 | ) |  | (16,004 | )
| Rescissions and denials |  | (357 | ) |  | (629 | ) |  | (848 | )
| Other items removed from inventory |  | (1,337 | ) |  | (1,273 | ) |  | (1,121 | )
| Delinquent inventory at end of year |  | 46,556 |  |  | 50,282 |  |  | 62,633 |
Aging of the primary default inventory | The number of consecutive months that a borrower has been delinquent is shown in the table below.
| Table | 8.4 |  |  |  |  |  |  |  |  |  |  |  |
Delinquent inventory - consecutive months delinquent |  |  | December 31,
|  | 2017 |  | 2016 |  | 2015
3 months or less |  | 17,119 |  |  | 37 | % |  | 12,194 |  |  | 24 | % |  | 13,053 |  |  | 21 | %
4 - 11 months |  | 12,050 |  |  | 26 | % |  | 13,450 |  |  | 27 | % |  | 15,763 |  |  | 25 | %
| 12 months or more (1) |  | 17,387 |  |  | 37 | % |  | 24,638 |  |  | 49 | % |  | 33,817 |  |  | 54 | %
| Total primary delinquent inventory |  | 46,556 |  |  | 100 | % |  | 50,282 |  |  | 100 | % |  | 62,633 |  |  | 100 | %
| Primary claims received inventory included in ending delinquent inventory |  | 954 |  |  | 2 | % |  | 1,385 |  |  | 3 | % |  | 2,769 |  |  | 4 | %
(1) | Approximately 45%, 47% and 50% of the primary delinquent inventory delinquent for 12 consecutive months or more has been delinquent for at least 36 consecutive months as of December 31, 2017, 2016 and 2015, respectively.
Number of payments delinquent | The number of payments that a borrower is delinquent is shown in table 8.5 below.
| Table | 8.5 |  |  |  |  |  |  |  |  |  |  |  |
Delinquent inventory - number of payments delinquent |  |  | December 31,
|  | 2017 |  | 2016 |  | 2015
3 payments or less |  | 21,678 |  |  | 46 | % |  | 18,419 |  |  | 36 | % |  | 20,360 |  |  | 33 | %
4 - 11 payments |  | 12,446 |  |  | 27 | % |  | 12,892 |  |  | 26 | % |  | 15,092 |  |  | 24 | %
| 12 payments or more |  | 12,432 |  |  | 27 | % |  | 18,971 |  |  | 38 | % |  | 27,181 |  |  | 43 | %
| Total primary delinquent inventory |  | 46,556 |  |  | 100 | % |  | 50,282 |  |  | 100 | % |  | 62,633 |  |  | 100 | %

X
- Definition Tabular disclosure of the aging of the loan primary default inventory. + References No definition available. + Details
Name: | mtg_AgingOfPrimaryDefaultInventoryTableTextBlock
Namespace Prefix: | mtg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number of payments delinquent on loans in the primary default inventory. + References No definition available. + Details
Name: | mtg_NumberOfPaymentsDelinquentTableTextBlock
Namespace Prefix: | mtg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity related to loans in the primary default inventory. + References No definition available. + Details
Name: | mtg_RollforwardOfPrimaryDefaultInventoryTableTextBlock
Namespace Prefix: | mtg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InsuranceLossReservesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reasons for the change in incurred claims and claim adjustment expenses recognized in the income statement attributable to insured events of prior fiscal years. Also includes disclosures of additional premiums or return premiums accrued as a result of changes in incurred claims and claim adjustment expenses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.W) -URI http://asc.fasb.org/extlink&oid=27015833&loc=d3e570705-122907 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14764-158437 + Details
Name: | us-gaap_ScheduleOfCausesOfIncreaseDecreaseInLiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14764-158437 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration