<SEC-DOCUMENT>0001547903-17-000012.txt : 20170210
<SEC-HEADER>0001547903-17-000012.hdr.sgml : 20170210
<ACCEPTANCE-DATETIME>20170210182116
ACCESSION NUMBER:		0001547903-17-000012
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170209
FILED AS OF DATE:		20170210
DATE AS OF CHANGE:		20170210

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMI Holdings, Inc.
		CENTRAL INDEX KEY:			0001547903
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		IRS NUMBER:				454914248
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2100 POWELL STREET, 12TH FLOOR
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608
		BUSINESS PHONE:		(855) 530-6642

	MAIL ADDRESS:	
		STREET 1:		2100 POWELL STREET, 12TH FLOOR
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mathis Patrick L
		CENTRAL INDEX KEY:			0001591042

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36174
		FILM NUMBER:		17595072

	MAIL ADDRESS:	
		STREET 1:		C/O NMI HOLDINGS, INC.
		STREET 2:		2100 POWELL ST., 12TH FLOOR
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_148676885162025.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2017-02-09</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001547903</issuerCik>
        <issuerName>NMI Holdings, Inc.</issuerName>
        <issuerTradingSymbol>NMIH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001591042</rptOwnerCik>
            <rptOwnerName>Mathis Patrick L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NMI HOLDINGS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>2100 POWELL STREET, 12TH FL.</rptOwnerStreet2>
            <rptOwnerCity>EMERYVILLE</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94608</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP, Chief Risk Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Shares, $0.01 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2017-02-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>17747</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>108824</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.1</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-02-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50127</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2027-02-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Shares, $0.01 par value per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50127.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50127</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents restricted stock units granted pursuant to the NMIH 2014 Omnibus Incentive Plan.  The shares underlying these restricted stock units vest in three equal annual installments beginning on February 9, 2018.</footnote>
        <footnote id="F2">Represents 28,597 class A common shares and 80,227 unvested restricted stock units.</footnote>
        <footnote id="F3">Granted pursuant to the NMIH 2012 Stock Incentive Plan.  The option vests in three equal annual installments beginning on February 9, 2018.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Nicole C. Sanchez as Attorney-in-Fact</signatureName>
        <signatureDate>2017-02-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
