NMI Holdings Inc-A 2026年季度报告

FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune 30, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ______ to ______ Commission file number001-36174 NMI Holdings, Inc. (Exact name of registrant as specified in its charter) (855) 530-6642(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and"emerginggrowthcompany"inRule12b-2oftheExchangeAct. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ The number of shares of common stock, $0.01 par value per share, of the registrant outstanding on July 27, 2026 was 75,217,851 shares. TABLE OF CONTENTS Cautionary Note Regarding Forward-Looking Statements4PART I6Item 1.Financial Statements6Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations28Item 3.Quantitative and Qualitative Disclosures About Market Risk52Item 4.Controls and Procedures53PART II54Item 1.Legal Proceedings54Item 1A.Risk Factors54Item 2.Unregistered Sales of Equity Securities and Use of Proceeds54Item 5.Other Information55Item 6.Exhibits56Signatures59 Glossary of Abbreviations and Acronyms The following list defines various abbreviations and acronyms used throughout this report and in our Annual Report on Form 10-K forthe year ended December 31, 2025. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (SecuritiesAct), Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act), and the U.S. Private Securities Litigation Reform Actof 1995. Any statements about our expectations, outlook, beliefs, plans, predictions, forecasts, objectives, assumptions or future events orperformance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words orphrases such as “anticipate,” “believe,” “can,” “could,” “may,” “predict,” “assume,” “potential,” “should,” “will,” “estimate,” “perceive,”“plan,” “project,” “continuing,” “ongoing,” “expect,” “intend” or words of similar meaning and include, but are not limited to, statementsregarding the outlook for our future business and financial performance. All forward-looking statements are necessarily only estimates of futureresults, and actual results may differ materially from expectations. You are, therefore, cautioned not to place undue reliance on such statements,which should be read in conjunction with the other cautionary statements that are included elsewhere in this report. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-lookingstatement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.We have based these forward-looking statements on our current expectations and projections about future events and financial trends that webelieve may affect our financial condition, operating results, business strategy and financial needs. There are important factors that could causeour actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance orachievements expressed or implied by the forward-looking statements including, but not limited to: •changes in general economic, market and political conditions and policies (including changes in interest rates and inflation) andinvestment