Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Reconciliation of Adjusted Pretax Operating Income (Loss) to Consolidated Pretax Income

The reconciliation of adjusted pretax operating income (loss) for our reportable segment to consolidated pretax income is as follows.

Reconciliation of adjusted pretax operating income (loss) to consolidated pretax income
	Three Months Ended March 31,
(In thousands)	2024		2023
Mortgage Insurance adjusted pretax operating income (1)	$	209,850	$	214,699
Reconciling items
All Other adjusted pretax operating income (loss)	(7,033)		(14,836)
Net gains (losses) on investments and other financial instruments (2)	107		5,505
Amortization and impairment of goodwill and other acquired intangible assets	—		(1,371)
Impairment of other long-lived assets and other non-operating items (3)	(4,275)		14
Consolidated pretax income	$	198,649	$	204,011

(1)Includes allocated corporate operating expenses and depreciation expense as follows.

	Three Months Ended March 31,
(In thousands)	2024		2023
Mortgage Insurance
Allocated corporate operating expenses (a)	$	34,509	$	34,829
Direct depreciation expense	1,923		2,124

(a)Includes immaterial allocated depreciation expense for the three months ended March 31, 2024 and 2023.

(2)Excludes certain net gains (losses), if any, on investments and other financial instruments that are attributable to specific operating segments and therefore included in adjusted pretax operating income (loss).

(3)The non-operating loss for the three months ended March 31, 2024, primarily relates to a loss on extinguishment of debt. See Note 12 for more information.

Schedule of Reconciliation of Reportable Segment Revenues to Total Revenues

The reconciliation of revenues for our reportable segment to consolidated revenues is as follows.

Reconciliation of reportable segment revenues to total revenues
	Three Months Ended March 31,
(In thousands)	2024		2023
Mortgage Insurance revenues	$	285,023	$	279,366
Reconciling items
All Other (1)	34,406		25,076
Net gains (losses) on investments and other financial instruments	107		5,505
Elimination of inter-segment revenues	(118)		(95)
Total revenues	$	319,418	$	309,852

(1)Includes immaterial inter-segment revenues for the three months ended March 31, 2024 and 2023.

Schedule of Services Revenue

The table below, which represents total services revenue in our condensed consolidated statements of operations for the periods indicated, provides the disaggregation of services revenue by revenue type.

Services revenue
	Three Months Ended March 31,
(In thousands)	2024		2023
Mortgage Insurance
Contract underwriting services	$	210	$	336
All Other
Real Estate Services
Valuation	4,475		2,881
Single family rental	2,360		2,435
Asset management technology platform	1,200		1,166
Real estate owned asset management	1,149		912
Other real estate services	9		1
Title	2,573		2,554
Real Estate Technology	612		699
Total services revenue	$	12,588	$	10,984