NMI Holdings, Inc. (NMIH) is a development-stage company. The Company through its subsidiaries provides private mortgage insurance in the United States. The Company’s wholly owned subsidiaries include National Mortgage Insurance Corporation and National Mortgage Reinsurance Inc One. On April 24, 2012, NMI Holdings, Inc. (NMI) closed an agreement with MAC Financial Ltd. to acquire MAC Financial Holdings Corporation and its wholly owned subsidiaries. On September 30, 2013, the Company merged MAC Financial Holding Corporation into NMIH, with NMIH surviving the merger, and it merged NMRI Two into NMIC, with NMIC surviving the merger.