EMERYVILLE, CA--(Marketwired - August 08, 2017) - Leading industry experts will gather in the Chicago area August 29-30 to launch the National Association of Independent Home Builders and Remodelers (NAIHBR), a national organization created to promote home construction and lending opportunities, which are critical to driving economic strength. National Mortgage Insurance Corporation (National MI), a primary operating subsidiary of NMI Holdings, Inc. (NMIH), has joined with US Bank, Associated Bank, Compass Mortgage, Freedom Title, BKD, LLP and others to support NAIHBR.
NAIHBR was formed in 2016 with the aim of creating a unified platform for lenders, Realtors®, builders and suppliers to make the construction process more streamlined and consumer-centric. Today the construction industry is highly fragmented, and smaller builders often lack the marketing resources and economic leverage to grow.
National MI was the first corporate sponsor of NAIHBR. "Even with over 1.2 million in new home construction starts this year, we are still facing a 50-year low in homeownership," said Jim Pippin, director of National MI. "New construction is a significant contributor to the housing market. Our sponsorship demonstrates our leadership and commitment to the construction of new homes."
Mortgage industry veteran Paul Imura was recently elected to serve as Chairman of NAIHBR. "With our deep partnerships with private MI companies, mortgage lenders, builders and Realtors, NAIHBR can facilitate solutions to the homeownership and housing inventory challenge," Imura said. "We were able to recruit over 1000 members in just a few short months, and will continue to expand nationally."
The August 29-30th event in Oak Brook, IL and Chicago, IL will cover key topics such as market outlook for construction, GSE solutions, mortgage insurance product innovation and unique ways for Realtors to work with builders to serve the consumer. The platform should drive more efficient conversion of open lots that can convert into new housing stock.
NAIHBR CEO Jeff Cook stated, "We are extremely excited to work with such great partners who demonstrate commitment to our local markets. If we can make it work locally, we are on our way to a national solution."
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (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 Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the U.S. 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. Any or all of our forward-looking statements in this press release may turn out to be inaccurate. 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 have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, operating results, business strategy and financial needs. All forward-looking statements are necessarily only estimates of future results, and actual results may differ materially from expectations. You are, therefore, cautioned not to place undue reliance on such statements. We do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.