NMI (NMIH) 10-Q 8 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 04, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'NMI HOLDINGS, INC.	'
Entity Central Index Key	'0001547903	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	58,363,334

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
Investments, available-for-sale, at fair value:	'	'
Fixed maturities (amortized cost of $413,816 and $416,135 as of June 30, 2014 and December 31, 2013, respectively)	$413,307,000	$409,088,000
Total investments	413,307,000	409,088,000
Cash and cash equivalents	34,671,000	55,929,000
Accrued investment income	1,989,000	2,001,000
Premiums receivable	143,000	19,000
Prepaid expenses	1,139,000	1,519,000
Deferred policy acquisition costs, net	1,051,000	90,200
Goodwill and other indefinite lived intangible assets	3,634,000	3,634,000
Software and equipment, net	10,172,000	8,876,000
Other assets	57,000	63,000
Total Assets	466,163,000	481,219,000
Liabilities	'	'
Unearned premiums	7,679,000	1,446,000
Reserve for insurance claims and claims expenses	28,000	0
Accounts payable and accrued expenses	8,494,000	10,052,000
Warrant liability, at fair value	4,552,000	6,371,000
Current tax payable	1,367,000	0
Deferred tax liability	133,000	133,000
Total Liabilities	22,253,000	18,002,000
Commitments and contingencies	'	'
Shareholders' Equity	'	'
Additional paid-in capital	558,432,000	553,707,000
Accumulated other comprehensive loss, net of tax	-3,173,000	-7,047,000
Accumulated deficit	-111,933,000	-84,024,000
Total Shareholders' Equity	443,910,000	463,217,000
Total Liabilities and Shareholders' Equity	466,163,000	481,219,000
Class A	'	'
Shareholders' Equity	'	'
Common stock - Class A shares, $0.01 par value, 58,363,334 and 58,052,480 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively (250,000,000 shares authorized)	$584,000	$581,000

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Fixed maturity, amortized cost	$413,816	$416,135
Class A	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares issued	58,363,334	58,052,480
Common stock, shares outstanding	58,363,334	58,052,480
Common stock, shares authorized	250,000,000	250,000,000

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Premiums written	'	'	'	'
Direct	$5,051	$1	$10,229	$1
Net premiums written	5,051	1	10,229	1
Increase in unearned premiums	-2,958	0	-6,232	0
Net premiums earned	2,093	1	3,997	1
Net investment income	1,468	1,407	2,957	1,817
Net realized investment gains	0	452	0	481
Gain (loss) from change in fair value of warrant liability	952	-1,114	1,769	-1,080
Gain from settlement of warrants	0	0	37	0
Total Revenues	4,513	746	8,760	1,219
Expenses	'	'	'	'
Insurance claims and claims expenses	28	0	28	0
Amortization of deferred policy acquisition costs	42	0	61	0
Other underwriting and operating expenses	18,595	17,020	37,877	29,445
Total Expenses	18,665	17,020	37,966	29,445
Loss before income taxes	-14,152	-16,274	-29,206	-28,226
Income tax benefit	-1,297	0	-1,297	0
Net Loss	-12,855	-16,274	-27,909	-28,226
Other Comprehensive Income (Loss), net of tax	'	'	'	'
Net unrealized holding gains (losses) for the period included in accumulated other comprehensive loss, net of tax expense of $2,664 and $0 for the three months ended June 30, 2014 and 2013, respectively, and $2,664 and $0 for the six months ended June 30, 2014 and 2013, respectively	840	-10,210	3,874	-9,323
Other Comprehensive Income (Loss), net of tax	840	-10,210	3,874	-9,323
Total Comprehensive Loss	($12,015)	($26,484)	($24,035)	($37,549)
Loss per share	'	'	'	'
Basic and Diluted loss per share (in dollars per share)	($0.22)	($0.29)	($0.48)	($0.51)
Weighted average common shares outstanding (in shares)	58,289,801	55,629,932	58,176,181	55,565,374

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Parentheticals (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income Statement [Abstract]	'	'	'	'	'
Change in unrealized investment gains (losses), tax amount	$2,664	$0	$2,664	$0	$0

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)	Total	Common stock	Common stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
In Thousands, unless otherwise specified		Class A	Class B
Beginning Balance at Dec. 31, 2012	$488,748	$553	$2	$517,032	$1	($28,840)
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Common stock Class A shares issued under stock plans, net of shares withheld for employee taxes	-1,578	1	'	-1,579	'	'
Issuance of shares of common stock	27,912	25	0	27,887	'	'
Conversion of Class B shares of common stock into Class A shares of common stock	0	2	-2	'	'	'
Share-based compensation expense	10,367	'	'	10,367	'	'
Change in unrealized investment gains/losses, net of tax	-7,048	'	'	'	-7,048	'
Net loss	-55,184	'	'	'	'	-55,184
Ending Balance at Dec. 31, 2013	463,217	581	0	553,707	-7,047	-84,024
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Common stock Class A shares issued related to warrants	13	'	'	13	'	'
Common stock Class A shares issued under stock plans, net of shares withheld for employee taxes	14	3	'	11	'	'
Share-based compensation expense	4,701	'	'	4,701	'	'
Change in unrealized investment gains/losses, net of tax	3,874	'	'	'	3,874	'
Net loss	-27,909	'	'	'	'	-27,909
Ending Balance at Jun. 30, 2014	$443,910	$584	$0	$558,432	($3,173)	($111,933)

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2014
		Class A
		Common stock
Payments of stock issuance costs	$3,483	'
Common stock, par value (in dollars per share)	'	$0.01
Change in unrealized investment gains (losses), tax amount	$0	'

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash Flows From Operating Activities	'	'
Net loss	($27,909)	($28,226)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Net realized investment gains	0	-481
(Gain) loss from change in fair value of warrant liability	-1,769	1,080
Gain from settlement of warrants	-37	0
Depreciation and other amortization	4,270	2,713
Share-based compensation expense	4,701	6,859
Benefit for taxes on current year unrealized gains	-1,297	0
Changes in operating assets and liabilities:	'	'
Accrued investment income	12	-2,105
Premiums receivable	-124	0
Prepaid expenses	380	-540
Deferred policy acquisition costs, net	-961	0
Other assets	7	53
Unearned premiums	6,232	0
Reserve for insurance claims and claims expenses	28	0
Accounts payable and accrued expenses	-1,558	-2,292
Net Cash Used in Operating Activities	-18,025	-22,939
Cash Flows From Investing Activities	'	'
Purchase of short-term investments	0	-510
Purchase of fixed-maturity investments, available-for-sale	-110	-552,174
Proceeds from maturity of short-term investments	0	5,375
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale	1,133	114,995
Purchase of software and equipment	-4,270	-3,084
Net Cash Used in Investing Activities	-3,247	-435,398
Cash Flows From Financing Activities	'	'
Issuance of common stock	1,086	0
Taxes paid related to net share settlement of equity awards	-1,072	-1,578
Net Cash Provided by (Used in) Financing Activities	14	-1,578
Net Decrease in Cash and Cash Equivalents	-21,258	-459,915
Cash and Cash Equivalents, beginning of period	55,929	485,855
Cash and Cash Equivalents, end of period	$34,671	$25,940

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and Basis of Presentation	'
	Organization and Basis of Presentation
	NMI Holdings, Inc. ("NMIH"), a Delaware corporation, was formed in May 2011 with the intention of providing private mortgage guaranty insurance through a wholly owned insurance subsidiary. From May 2011 through March 2013, our activities were limited to raising capital, seeking to acquire the assets and approvals necessary to become a private mortgage guaranty insurance provider and hiring personnel. In April 2013, we, through our primary insurance subsidiary, National Mortgage Insurance Corporation ("NMIC"), wrote our first mortgage guaranty insurance policy. As of June 30, 2014, we had $939.8 million primary insurance in force ("IIF") and $4.9 billion pool IIF, with $220.9 million of primary risk-in-force ("RIF") and $93.1 million of pool RIF.
	The accompanying consolidated financial statements include the accounts of NMIH and its wholly owned subsidiaries, NMIC, National Mortgage Reinsurance Inc One ("Re One"), and National Mortgage Reinsurance Inc Two ("Re Two"). On September 30, 2013, we merged Re Two into NMIC with NMIC surviving the merger.
	On November 30, 2011, we entered into an agreement with MAC Financial Ltd. to acquire MAC Financial Holding Corporation and its subsidiaries, which were renamed NMIC, Re One and Re Two, for $8.5 million in cash, common stock and warrants plus the assumption of $1.3 million in liabilities ("MAC Acquisition"). In addition, we incurred $0.1 million in deferred tax liabilities as a result of the acquisition of certain indefinite-lived intangibles. The MAC Acquisition was completed in April 2012. On September 30, 2013, we merged MAC Financial Holding Corporation into NMIH, with NMIH surviving the merger.
	In April 2012, we offered and sold 55.0 million shares of common stock at an issue price of $10.00 per share in a private placement ("Private Placement"). Gross proceeds from the Private Placement were $550.0 million. Net proceeds from the Private Placement, after an approximate 7% underwriting fee and other offering expenses, were approximately $510 million. The fee was escrowed for the benefit of FBR Capital Markets and Co. ("FBR") and was released to FBR upon NMIC's receipt of approval from Federal National Home Mortgage Association ("Fannie Mae") and Federal Home Loan Mortgage Corporation ("Freddie Mac") as a qualified mortgage guarantee insurer ("GSE Approval").
	Under the terms of certain Registration Rights Agreements to which we are a party (collectively the "Registration Right Agreement"), we were required to obtain GSE Approval on or before January 17, 2013. NMIC was approved as an eligible mortgage guaranty insurer by Freddie Mac and Fannie Mae on January 15, 2013 and January 16, 2013, respectively, which approvals require NMIC to continue meeting certain conditions, which include an agreement to maintain minimum capital of $150 million at NMIC and that NMIC not exceed a risk-to-capital ratio of 15:1 for its first three years. Although NMIC's capital and risk-to-capital ratio are well within these constraints, at June 30, 2014, NMIH had sufficient resources to downstream cash to either insurance subsidiary, as necessary, to comply with all commitments.
	In November 2013, we completed an initial public offering of 2.4 million shares of our common stock (the "IPO") and our common stock began trading on the NASDAQ on November 8, 2013, under the symbol “NMIH.” For a further discussion see "Note 2, Common Stock Offerings."
	On April 7, 2014, we received our final certificate of authority (our insurance license permitting us to write mortgage guaranty insurance in that state) from the state of Wyoming. With Wyoming, we are now licensed in all 50 states and Washington D.C.
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements, which include the results of NMIH and its wholly owned subsidiaries, have been prepared in accordance with the instructions to Form 10-Q as prescribed by the United States ("U.S.") Securities and Exchange Commission for interim reporting and include all of the other information and disclosures required by accounting principles generally accepted in the U.S. ("GAAP"). Our accounts are maintained in U.S. dollars. These statements should be read in conjunction with our consolidated financial statements and notes thereto for the year ended December 31, 2013 included in our Annual Report on Form 10-K. All intercompany transactions have been eliminated. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities as of the balance sheet date. Estimates also affect the reported amounts of income and expenses for the reporting period. Actual results could differ from those estimates. The results of operations for the interim period may not be indicative of the results that may be expected for the full year ending December 31, 2014.
	Basic net loss per share is based on the weighted-average number of common shares outstanding, while diluted net loss per share is based on the weighted-average number of common shares outstanding and common stock equivalents that would be issuable upon the exercise of stock options, other stock-based compensation arrangements, and the dilutive effect of outstanding warrants. As a result of our net losses for the quarters ended June 30, 2014 and June 30, 2013, 5.9 million and 5.3 million shares of our common stock equivalents that we issued as of each respective period under stock-based compensation arrangements and warrants were not included in the calculation of diluted net loss per share as of such dates because they were anti-dilutive.
	Deferred Policy Acquisition Costs
	Costs directly associated with the successful acquisition of mortgage guaranty insurance policies, consisting of certain selling expenses and other policy issuance and underwriting expenses, are initially deferred and reported as deferred policy acquisition costs ("DAC"). For each book year of business, these costs are amortized to income in proportion to estimated gross profits over the estimated life of the policies.  We recorded net DAC of $1.1 million at June 30, 2014 and $90.2 thousand at December 31, 2013.
	Premium Deficiency Reserves
	We consider whether a premium deficiency exists at each fiscal quarter using best estimate assumptions as of the testing date. Per ASC 944, a premium deficiency reserve shall be recognized if the sum of expected claim costs and claim adjustment expenses, expected dividends to policyholders, unamortized acquisition costs, and maintenance costs exceeds related unearned premiums and anticipated investment income. We have determined that no premium deficiency reserves were necessary for the quarter ended June 30, 2014 or for the year ended December 31, 2013.
	Reclassifications
	Certain items in the financial statements as of December 31, 2013 and for the quarter ended June 30, 2013 have been reclassified to conform to the current period's presentation. There was no effect on net income or shareholders' equity previously reported.
	Subsequent Events
	Effective July 1, 2014, we entered into a settlement agreement (the "Settlement Agreement") with Arch U.S. MI Services, Inc. ("Arch"), Germaine J. Marks and Truitte D. Todd, in their capacities as, respectively, Receiver and Special Deputy Receiver of PMI Mortgage Insurance Co., in Rehabilitation (collectively, the "Receiver") and PMI Mortgage Insurance Co., in Rehabilitation ("PMI"), to settle the complaint filed on August 8, 2012 by the Receiver against NMIH, NMIC and certain employees of the Company (collectively the "Defendants"), in California Superior Court, Alameda County (the “PMI Complaint”). Pursuant to the terms of an Asset Purchase Agreement, dated February 7, 2013, between Arch and PMI, PMI transferred and assigned to Arch all causes of action pursued in the PMI Complaint. Pursuant to the terms of the Settlement Agreement, the Company and its insurance carriers made a settlement payment in favor of Arch, and Arch released the Defendants from all claims alleged in the PMI Complaint. Per the settlement agreement, Arch moved to dismiss the PMI Complaint with prejudice, which the Court granted on July 28, 2014. The Company's portion of the settlement payment has been recorded in the Company's financial statements as of the quarter ended June 30, 2014.
	On July 10, 2014, the Federal Housing Finance Agency (“FHFA”) released for public input the proposed Private Mortgage Insurer Eligibility Requirements (“PMIERs”). The PMIERs, when finalized and effective, establish operational, business, remedial and financial requirements applicable to private mortgage insurers that insure residential mortgages on loans owned or guaranteed by Fannie Mae and Freddie Mac. We discuss these proposed PMIERs in Item 2 "Management's Discussion and Analysis of Financial Condition and Results of Operations - Proposed PMIERs," below.
	We have considered subsequent events through the date of this filing.

Common_Stock_Offering

Common Stock Offering	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Common Stock Offering	'
	Common Stock Offerings
	We entered into a purchase/placement agreement that closed in April 2012, pursuant to which we offered and sold an aggregate of 55,000,000 of our Class A common shares, resulting in net proceeds of approximately $510 million after an approximate 7% underwriting fee and other offering expenses. On November 8, 2013, we completed an initial public offering of 2.4 million shares of common stock, and our common stock began trading on the NASDAQ under the symbol "NMIH". Net proceeds from the offering were approximately $28 million, after an approximate 6% underwriting fee and other offering expenses and reimbursements pursuant to the underwriting agreement.

Investments

Investments	6 Months Ended
	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Investments	'
	Investments
	We have designated our investment portfolio as available-for-sale and report it at fair value. The related unrealized gains and losses are, after considering the related tax expense or benefit, recognized as a component of accumulated other comprehensive loss in shareholders' equity. Net realized investment gains and losses are reported in income based upon specific identification of securities sold.
	Fair Values and Gross Unrealized Gains and Losses on Investments
		Amortized				Gross Unrealized								Fair
		Cost				Gains				Losses				Value
	As of June 30, 2014	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	107,929			$	29			$	(650	)		$	107,308
	Municipal bonds	12,013				54				(18		)		12,049
	Corporate debt securities	221,111				1,072				(1,113		)		221,070
	Asset-backed securities	72,763				396				(279		)		72,880
	Total Investments	$	413,816			$	1,551			$	(2,060	)		$	413,307
		Amortized				Gross Unrealized								Fair
		Cost				Gains				Losses				Value
	As of December 31, 2013	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	108,067			$	—			$	(1,461	)		$	106,606
	Municipal bonds	12,017				1				(85		)		11,933
	Corporate debt securities	221,899				157				(4,799		)		217,257
	Asset-backed securities	74,152				114				(974		)		73,292
	Total Investments	$	416,135			$	272			$	(7,319	)		$	409,088
	Scheduled Maturities
	The amortized cost and fair values of available for sale securities at June 30, 2014 and December 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Because most asset-backed securities provide for periodic payments throughout their lives, they are listed below in separate categories.
	As of June 30, 2014	Amortized				Fair
		Cost				Value
		(In Thousands)
	Due in one year or less	$	2,674			$	2,675
	Due after one through five years	265,261				264,556
	Due after five through ten years	57,718				57,843
	Due after ten years	15,400				15,353
	Asset-backed securities	72,763				72,880
	Total Investments	$	413,816			$	413,307
	As of December 31, 2013	Amortized				Fair
		Cost				Value
		(In Thousands)
	Due in one year or less	$	—			$	—
	Due after one through five years	260,855				257,501
	Due after five through ten years	65,687				63,440
	Due after ten years	15,441				14,855
	Asset-backed securities	74,152				73,292
	Total Investments	$	416,135			$	409,088
	Net Realized Investment Gains (Losses) on Investments
		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2014				2013				2014				2013
		(In Thousands)
	Corporate debt securities	$	—			$	488			$	—			$	517
	U.S. Treasury securities and obligations of U.S. government agencies	—				(16		)		—				(16		)
	Asset-backed securities	—				(20		)		—				(20		)
	Total Net Realized Investment Gains	$	—			$	452			$	—			$	481
	Aging of Unrealized Losses
	At June 30, 2014, the investment portfolio had gross unrealized losses of $2.1 million, $2.0 million of which has been in an unrealized loss position for a period of 12 months or greater. We did not consider these securities to be other-than-temporarily impaired as of June 30, 2014. We based our conclusion that these investments were not other-than-temporarily impaired at June 30, 2014 on the following facts: (i) the unrealized losses were primarily caused by interest rate movements since the purchase date; (ii) we do not intend to sell these investments and; (iii) we do not believe that it is more likely than not that we will be required to sell these investments before recovery of our amortized cost basis, which may not occur until maturity. For those securities in an unrealized loss position, the length of time the securities were in such a position is as follows:
		Less Than 12 Months									12 Months or Greater								Total
		# of Securities		Fair Value			Unrealized Losses				# of Securities		Fair Value			Unrealized Losses			# of Securities	Fair Value		Unrealized Losses
	As of June 30, 2014			(Dollars in Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	1		$	124		$	—			15		$	74,465		$	(650	)	16	$	74,589	$	(650	)
	Municipal bonds	—		—			—				1		1,732			(18		)	1	1,732		(18		)
	Corporate debt securities	5		2,216			(6		)		27		96,788			(1,107		)	32	99,004		(1,113		)
	Assets-backed securities	2		10,757			(101		)		6		27,130			(178		)	8	37,887		(279		)
	Total Investments	8		$	13,097		$	(107	)		49		$	200,115		$	(1,953	)	57	$	213,212	$	(2,060	)
		Less Than 12 Months									12 Months or Greater								Total
		# of Securities		Fair Value			Unrealized Losses				# of Securities		Fair Value			Unrealized Losses			# of Securities	Fair Value		Unrealized Losses
	As of December 31, 2013			(Dollars in Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	19		$	106,606		$	(1,461	)		—		$	—		$	—		19	$	106,606	$	(1,461	)
	Municipal bonds	2		4,915			(85		)		—		—			—			2	4,915		(85		)
	Corporate debt securities	47		187,714			(4,799		)		—		—			—			47	187,714		(4,799		)
Assets-backed securities	11		58,225			(974		)		—		—			—			11	58,225		(974		)
Total Investments	79		$	357,460		$	(7,319	)		—		$	—		$	—		79	$	357,460	$	(7,319	)
Net investment income is comprised of the following:
	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2014				2013				2014				2013
	(In Thousands)
Fixed maturities	$	1,605			$	1,447			$	3,231			$	2,012
Cash equivalents	—				—				—				2
Investment income	1,605				1,447				3,231				2,014
Investment expenses	(137		)		(40		)		(274		)		(197		)
Net Investment Income	$	1,468			$	1,407			$	2,957			$	1,817
As of June 30, 2014 and December 31, 2013, there were approximately $7.1 million and $7.0 million, respectively, of cash and investments in the form of U.S. Treasury securities on deposit with various state insurance departments to satisfy regulatory requirements.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	The following describes the valuation techniques used by us to determine the fair value of financial instruments held at June 30, 2014 and December 31, 2013:
	We established a fair value hierarchy by prioritizing the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under this standard are described below:
	Level 1 - Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date for identical assets or liabilities;
	Level 2 - Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities; and
	Level 3 - Unobservable inputs that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
	The level of market activity used to determine the fair value hierarchy is based on the availability of observable inputs market participants would use to price an asset or a liability, including market value price observations.
	Assets classified as Level 1 and Level 2
	To determine the fair value of securities available-for-sale in Level 1 and Level 2 of the fair value hierarchy, independent pricing sources have been utilized. One price is provided per security based on observable market data. To ensure securities are appropriately classified in the fair value hierarchy, we review the pricing techniques and methodologies of the independent pricing sources and believe that their policies adequately consider market activity, either based on specific transactions for the issue valued or based on modeling of securities with similar credit quality, duration, yield and structure that were recently traded. A variety of inputs are utilized by the independent pricing sources including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two sided markets, benchmark securities, bids, offers and reference data including data published in market research publications. Inputs may be weighted differently for any security, and not all inputs are used for each security evaluation. Market indicators, industry and economic events are also considered. This information is evaluated using a multidimensional pricing model. Quality controls are performed by the independent pricing sources throughout this process, which include reviewing tolerance reports, trading information and data changes, and directional moves compared to market moves. This model combines all inputs to arrive at a value assigned to each security. We have not made any adjustments to the prices obtained from the independent pricing sources.
	Liabilities classified as Level 3
	The warrants outstanding are valued using a Black-Scholes option-pricing model in combination with a binomial model and Monte Carlo simulation used to value the pricing protection features within the warrants. Variables in the model include the risk-free rate of return, dividend yield, expected life and expected volatility of our stock price.
	ASC 825, Disclosures about Fair Value of Financial Instruments, requires all entities to disclose the fair value of their financial instruments, both assets and liabilities recognized and not recognized in the balance sheet, for which it is practicable to estimate fair value.
	The following is a list of those assets and liabilities that are measured at fair value by hierarchy level as of June 30, 2014 and December 31, 2013:
		Fair Value Measurements Using
	Assets and Liabilities at Fair Value	Quoted Prices in			Significant Other		Significant		Fair Value
		Active Markets for			Observable Inputs		Unobservable
		Identical Assets			(Level 2)		Inputs
		(Level 1)					(Level 3)
	As of June 30, 2014	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	49,911		$	57,397	$	—	$	107,308
	Municipal bonds	—			12,049		—		12,049
	Corporate debt securities	—			221,070		—		221,070
	Asset-backed securities	—			72,880		—		72,880
	Cash and cash equivalents	34,671			—		—		34,671
	Total Assets	$	84,582		$	363,396	$	—	$	447,978
	Warrant liability	$	—		$	—	$	4,552	$	4,552
	Total Liabilities	$	—		$	—	$	4,552	$	4,552
		Fair Value Measurements Using
	Assets and Liabilities at Fair Value	Quoted Prices in			Significant Other		Significant		Fair Value
		Active Markets for			Observable Inputs		Unobservable
		Identical Assets			(Level 2)		Inputs
		(Level 1)					(Level 3)
	As of December 31, 2013	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	49,484		$	57,122	$	—	$	106,606
	Municipal bonds	—			11,933		—		11,933
	Corporate debt securities	—			217,257		—		217,257
	Asset-backed securities	—			73,292		—		73,292
	Cash and cash equivalents	55,929			—		—		55,929
	Total Assets	$	105,413		$	359,604	$	—	$	465,017
	Warrant liability	$	—		$	—	$	6,371	$	6,371
	Total Liabilities	$	—		$	—	$	6,371	$	6,371
	The following is a roll-forward of Level 3 liabilities measured at fair value for the six months ended June 30, 2014 and the year ended December 31, 2013:
	Level 3 Instruments Only	Warrant Liability
	Six Months Ended June 30, 2014	(In Thousands)
	Balance, January 1, 2014	$	6,371
	Change in fair value of warrant liability included in earnings	(1,769		)
	Gain on settlement of warrants	(37		)
	Issuance of common stock on warrant exercise	(13		)
	Balance, June 30, 2014	$	4,552
	Level 3 Instruments Only	Warrant Liability
	Year Ended December 31, 2013	(In Thousands)
	Balance, January 1, 2013	$	4,842
	Change in fair value of warrant liability included in earnings	1,529
	Balance, December 31, 2013	$	6,371
	We revalue the warrant liability quarterly using a Black-Scholes option-pricing model in combination with a binomial model and a Monte-Carlo simulation model used to value the pricing protection features within the warrant. As of June 30, 2014 the assumptions used in the option pricing model were as follows: a common stock price as of June 30, 2014 of $10.50, risk free interest rate of 2.02%, expected life of 6.58 years, expected volatility of 39.0%, and a dividend yield of 0%. The change in fair value is primarily attributable to a decline in the price of our common stock from December 31, 2013 to June 30, 2014.
	The carrying value of other selected assets on our consolidated balance sheet approximates fair value.

Reserves_for_Insurance_Claims_

Reserves for Insurance Claims and Claim Expenses	6 Months Ended
	Jun. 30, 2014
Insurance [Abstract]	'
Reserves for Insurance Claims and Claim Expenses	'
	Reserves for Insurance Claims and Claims Expenses
	We establish claim reserves to recognize the estimated liability for insurance claims and claim expenses related to defaults on insured mortgage loans. Our method, consistent with industry practice, is to establish claim reserves only for loans in default. We have received our first notice of default ("NOD") within our primary insurance book in the second quarter of 2014 and have established a reserve for that NOD and for claims that we believe have been incurred but not reported ("IBNR") for the three and six months ended June 30, 2014. For the year ended December 31, 2013 we established no claim or IBNR reserves. Additionally, we entered into a pool insurance transaction with Fannie Mae, effective September 1, 2013. For this pool transaction, any claim reserves potentially established would be in excess of the transaction's deductible, which represents the amount of claims absorbed by Fannie Mae before we are obligated to pay any claims under the policy. Due to the size of the deductible ($10.3 million), the low level of NODs reported through June 30, 2014 and the high quality of the loans, we have not established any pool reserves for claims or IBNR for the three and six months ended June 30, 2014 or for the year ended December 31, 2013.
	The following table provides a reconciliation of the beginning and ending reserve balances for insurance claims and claims expenses for the six months ended June 30, 2014 and 2013:
		Six Months Ended
		2014		2013
		(In Thousands)
	Reserve at beginning of period	$	—	$	—
	Claims incurred:
	Claims and Claims expenses incurred in respect of default notices related to:
	Current year	28		—
	Prior years	—		—
	Total claims incurred	28		—
	Claims paid:
	Claims and Claims Expenses paid in respect of default notices related to:
	Current year	—		—
	Prior years	—		—
	Total claims paid	—		—
	Reserve at end of period	$	28	$	—

Software_and_Equipment

Software and Equipment	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
Software and Equipment	'
	Software and Equipment
	Software and equipment includes capitalized software purchased in connection with the MAC Acquisition which had a fair value of $5.0 million at the date of acquisition, as well as software we have developed. Software and equipment, net of accumulated amortization and depreciation, as of June 30, 2014 and December 31, 2013 consist of the following:
		As of June 30,			As of December 31,
		2014			2013
		(In Thousands)
	Software	$	17,617		$	14,140
	Equipment	561			542
	Leasehold improvements	904			141
	Subtotal	19,082			14,823
	Accumulated amortization and depreciation	(8,910		)	(5,947		)
	Software and equipment, net	$	10,172		$	8,876
	Amortization and depreciation expense for the three and six months ended June 30, 2014 and 2013 was $1.7 million, $3.0 million, $1.8 million and $1.8 million, respectively.

Intangible_Assets_and_Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Intangible Assets and Goodwill	'
	Intangible Assets and Goodwill
	Intangible assets and goodwill consist of identifiable intangible assets and goodwill purchased in connection with the MAC Acquisition. Intangible assets and goodwill, net, as of June 30, 2014 and December 31, 2013, consist of the following:
	As of June 30, 2014 and December 31, 2013	(In Thousands)		Expected Lives
	Goodwill	$	3,244	Indefinite
	State licenses	260		Indefinite
	GSE applications	130		Indefinite
	Total Intangible Assets and Goodwill	$	3,634
	We test goodwill and intangibles for impairment in the third and fourth quarter, respectively, of every year, or more frequently if we believe indicators of impairment exist. We have not identified any impairments of goodwill or impairments of indefinite-lived intangibles as of June 30, 2014.

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	We are a U.S. taxpayer and are subject to a statutory U.S. federal corporate income tax rate of 35%. Our holding company files a consolidated U.S. federal and various state income tax returns on behalf of itself and its subsidiaries. Our effective income tax rate on our pre-tax loss was 9.2% for the three months ended June 30, 2014, compared to 0.0% for the comparable 2013 period. Our effective income tax rate on our pre-tax loss was 4.4% for the six months ended June 30, 2014, compared to 0.0% for the comparable 2013 period.
	The income tax benefit of $1.3 million for the six months ended June 30, 2014 is related to the tax effects of unrealized gains credited to other comprehensive income ("OCI"). Generally, the amount of tax expense or benefit allocated to continuing operations is determined without regard to the tax effects of other categories of income or loss, such as OCI. However, an exception to the general rule is provided in ASC 740-20-45-7 when there is a pre-tax loss from continuing operations and there are items charged or credited to other categories, including OCI, in the current year. The intra-period tax allocation rules related to items charged or credited directly to OCI can result in disproportionate tax effects that remain in OCI until certain events occur. As a result of a reduction in unrealized losses credited directly to OCI during the six months ended June 30, 2014, approximately $2.7 million of tax provision expense has been netted with current year unrealized gains in OCI, and $1.3 million of tax provision benefit was allocated to the income tax provision for continuing operations. Other benefits from income taxes were eliminated or reduced by the recognition of a full valuation allowance which was recorded to reflect the amount of the deferred taxes that may not be realized.
	As of June 30, 2014 and December 31, 2013, we have a net deferred tax liability of $0.1 million as a result of the acquisition of indefinite-lived intangibles in the MAC Acquisition for which no benefit has been reflected in the acquired net operating loss carry forwards. The tax liability incurred at the acquisition is recorded as an increase in goodwill.

ShareBased_Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Compensation	'
	Share Based Compensation
	A summary of option activity under our 2012 Stock Incentive Plan during the quarters ended June 30, 2014 and June 30, 2013 is as follows:
		Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Options outstanding at December 31, 2013	3,063		$	10.31	$	3.98
	Options granted	710		12.28		4.95
	Options exercised	(109	)	10		3.85
	Options forfeited	(64	)	11.16		4.37
	Options outstanding at June 30, 2014	3,600		$	10.69	$	4.17
		Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Options outstanding at December 31, 2012	2,547		$	10	$	3.86
	Options granted	532		11.78		4.56
	Options forfeited	(10	)	10		3.84
	Options outstanding at June 30, 2013	3,069		$	10.31	$	3.98
	As of June 30, 2014, there were 109 thousand options exercised and 1.6 million options were fully vested and exercisable. The weighted average exercise price for the fully vested and exercisable options was $10.21. The remaining weighted average contractual life of options fully vested and exercisable as of June 30, 2014 was 7.8 years. The aggregate intrinsic value for fully vested and exercisable options was $0.7 million as of June 30, 2014. The fair value of option grants to employees is determined based on a Black-Scholes simulation model at the date of grant.
	A summary of RSU activity in the plan during the six months ended June 30, 2014 and June 30, 2013 is as follows:
		Shares		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Non-vested restricted stock units at December 31, 2013	1,242		$	7.75
	Restricted stock units granted	359		11.6
	Restricted stock units vested	(295	)	8.23
	Restricted stock units forfeited	(36	)	9.29
	Non-vested restricted stock units at June 30, 2014	1,270		$	8.68
		Shares		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Non-vested restricted stock units at December 31, 2012	1,429		$	7.35
	Restricted stock units granted	82		11.75
	Restricted stock units vested	(262	)	6.79
	Restricted stock units forfeited	—		—
	Non-vested restricted stock units at June 30, 2013	1,249		$	7.76
	At June 30, 2014, the 1.3 million shares of non-vested RSUs consisted of 0.5 million shares that are subject to both a market and service condition and 0.8 million shares that are subject only to service conditions. The non-vested RSUs subject to both a market and service condition vest in one-half increments upon the achievement of certain market price goals and continued service. Non-vested RSUs subject only to a service condition vest over a service period ranging from 1 to 3 years. The fair value of RSUs subject to market and service conditions is determined based on a Monte Carlo simulation model at the date of grant. The fair value of RSUs subject only to service conditions are valued at our stock price on the date of grant less the present value of anticipated dividends, which is $0.
	On May 8, 2014 we held our annual shareholder meeting. Our shareholders voted to approve our 2014 Omnibus Incentive Plan, which authorizes us to make 4 million shares of our class A common stock available for grant. These shares may be either authorized but unissued shares or treasury shares.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Warrants	'
	Warrants
	We issued 992.0 thousand warrants, to FBR and the former stockholders of MAC Financial Ltd., upon the completion of our Private Placement and in conjunction with the MAC Acquisition, respectively. Each warrant gave the holder thereof the right to purchase one share of common stock at an exercise price equal to $10.00. The warrants were issued with an aggregate fair value of $5.1 million.
	Upon exercise of these warrants, the amounts will be reclassified from warrant liability to additional paid-in capital. During the first quarter of 2014, 7.8 thousand warrants were exercised and we issued 1.1 thousand Class A common shares via a cashless exercise. Upon exercise we reclassified the fair value of the warrants from warrant liability to additional paid in capital and recognized a gain of approximately $37 thousand.
	We account for these warrants to purchase our common shares in accordance with ASC 470-20, Debt with Conversion and Other Options and ASC 815-40, Derivatives and Hedging - Contracts in Entity's Own Equity.

Litigation

Litigation	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Litigation	'
	Litigation
	On August 8, 2012, the Receiver of PMI filed the PMI Complaint against NMIH, NMIC and certain employees of the Company in California Superior Court, Alameda County. Effective July 1, 2014, we entered into a settlement agreement to settle the PMI Complaint. See Note 1, Organization and Basis of Presentation, Subsequent Events.

Statutory_Information

Statutory Information	6 Months Ended
	Jun. 30, 2014
Insurance [Abstract]	'
Statutory Information	'
	Statutory Information
	Our insurance subsidiaries, NMIC and Re One, file financial statements in conformity with statutory basis accounting principles ("SAP") prescribed or permitted by the Wisconsin Office of the Commissioner of Insurance ("Wisconsin OCI"). NMIC's principal regulator is the Wisconsin OCI. Prescribed SAP includes state laws, regulations and general administrative rules, as well as a variety of publications of the National Association of Insurance Commissioners ("NAIC"). The Wisconsin OCI recognizes only statutory accounting practices prescribed or permitted by the state of Wisconsin for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under Wisconsin insurance laws.
	NMIC and Re One's combined statutory net loss, statutory surplus and contingency reserve as of and for the six months ended June 30, 2014 and for the year ended December 31, 2013 were as follows:
		June 30, 2014			December 31, 2013
		(In Thousands)
	Statutory net loss	$	(24,637	)	$	(33,307	)
	Statutory surplus	185,061			189,698
	Contingency reserve	4,312			2,314
	Under applicable Wisconsin law, as well as that of 15 other states, a mortgage guaranty insurer must maintain a minimum amount of statutory capital relative to the risk-in-force (Risk to Capital ratio or “RTC ratio”) in order for the mortgage guaranty insurer to continue to write new business. We refer to these requirements as the “RTC requirement.” While formulations of minimum capital may vary in each jurisdiction that has such a requirement, the most common measure applied allows for a maximum permitted RTC ratio of 25 to 1. Wisconsin and certain other states, including California and Illinois, apply a substantially similar requirement referred to as minimum policyholders position. Our operation plan filed with the Wisconsin OCI and other state insurance departments in connection with NMIC's applications for licensure includes the expectation that NMIH will downstream additional capital if needed so that NMIC does not exceed risk-to-capital ratios agreed to with those states. NMIC may in the future seek state insurance department approvals, as needed, of an amendment to our business plan to increase this ratio to the Wisconsin regulatory minimum of 25 to 1.
	Certain states limit the amount of risk a mortgage guaranty insurer may retain on a single loan to 25% of the indebtedness to the insured and as a result the portion of such insurance in excess of 25% must be reinsured. NMIC and Re One have entered into a primary excess share reinsurance agreement effective August 1, 2012 and a facultative pool reinsurance agreement effective September 1, 2013, under which NMIC cedes premiums, loss reserves and claims to Re One on an excess share basis for any primary or pool policy which offers coverage greater than 25% on any loan insured thereunder. NMIC will use reinsurance provided by Re One solely for purposes of compliance with statutory coverage limits. Currently, NMIC has no other reinsurance agreements. During April 2013, NMIC wrote its first mortgage insurance policies and ceded premium and risk to Re One the following month.
	As of June 30, 2013, NMIC had six policies in force totaling approximately $257 thousand of RIF, resulting in a non-meaningful RTC ratio. As of June 30, 2014, NMIC had $314 million in total risk-in-force with a RTC ratio that was less than 2:1, significantly below the GSE and state imposed financial requirements. The risk-to-capital calculation for each of our insurance subsidiaries, as well as our combined risk-to-capital calculation, as of June 30, 2014, is presented below.
	As of June 30, 2014	NMIC			Re One			Combined
		(In Thousands)
	Primary risk-in-force
	Direct	$	220,949		$	—		$	220,949
	Assumed	—			17,969			17,969
	Ceded	(17,969		)	—			(17,969		)
	Total primary risk-in-force	202,980			17,969			220,949
	Pool risk-in-force (1)
	Direct	93,090			—			93,090
	Assumed	—			25,163			25,163
	Ceded	(25,163		)	—			(25,163		)
	Total pool risk-in-force	67,927			25,163			93,090
	Total risk-in-force	270,907			43,132			314,039
	Statutory policyholders' surplus	175,784			9,277			185,061
	Statutory contingency reserve	3,604			708			4,312
	Total statutory policyholders' position	$	179,388		$	9,985		$	189,373
	Risk-to-Capital (2)	1.5:1			4.3:1			1.7:1
	(1)	Pool risk-in-force as shown in the table above is equal to the aggregate stop loss less a deductible.
	(2)	Represents total risk-in-force divided by statutory policyholders' position which is the metric by which the majority of state insurance regulators will assess our capital adequacy. Additionally, pursuant to the 2013 Fannie Mae pool agreement, we are required to maintain the greater of (a) the risk-to-capital requirements outlined in Fannie Mae's January 2013 approval letter or (b) a risk-to-capital ratio of 18:1 on primary business plus statutory capital equal to the amount of net risk-in-force of the pool.
	NMIH is not subject to any limitations on its ability to pay dividends except those generally applicable to corporations that are incorporated in Delaware, such as NMIH. Delaware corporation law provides that dividends are only payable out of a corporation's capital surplus or (subject to certain limitations) recent net profits. As of December 31, 2013, NMIH's capital surplus was approximately $463 million. NMIH assets, excluding investment in NMIC and Re One, were approximately $276 million at December 31, 2013 and were unencumbered by any debt or other subsidiary commitments or obligations. The insurance subsidiaries are both mono-line mortgage guaranty insurance companies, and the assets of each are dedicated only to the support of direct risk and obligations of each mortgage insurance entity. NMIC only writes direct mortgage guaranty insurance business and assumes no business from any other entity. Re One only assumes business from NMIC to allow NMIC to comply with statutory risk requirements. Neither NMIC nor Re One have subsidiaries, and therefore do not have risks and obligations that compete for its resources, and neither entity counts a subsidiary's asset in their admitted statutory assets.
	The GSEs and state insurance regulators may restrict our insurance subsidiaries' ability to pay dividends to NMIH. In addition to the restrictions imposed during the GSE Approval and state licensing processes, the ability of our insurance subsidiaries to pay dividends to NMIH is limited by insurance laws of the State of Wisconsin and certain other states. Wisconsin law provides that an insurance company may pay out dividends without the prior approval of the Wisconsin OCI (“ordinary dividends”) in an amount, when added to other shareholder distributions made in the prior 12 months, not to exceed the lesser of (a) 10% of the insurer's surplus as regards to policyholders as of the prior December 31, or (b) its net income (excluding realized capital gains) for the twelve month period ending December 31 of the immediately preceding calendar year. In determining net income, an insurer may carry forward net income from the previous calendar years that has not already been paid out as a dividend. Dividends that exceed this amount are “extraordinary dividends,” which require prior approval of the Wisconsin OCI. As of December 31, 2013, the amount of restricted net assets held by our consolidated insurance subsidiaries totaled approximately $193 million of NMIH's consolidated net assets of $463 million. The amount of restricted assets used to determine any dividend to NMIH, once all restrictions expire, would be computed under SAP which may differ from the amount of restricted assets computed under GAAP.

Investments_Tables

Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Schedule of Fair Values and Gross Unrealized Gains and Losses	'
	Fair Values and Gross Unrealized Gains and Losses on Investments
		Amortized				Gross Unrealized								Fair
		Cost				Gains				Losses				Value
	As of June 30, 2014	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	107,929			$	29			$	(650	)		$	107,308
	Municipal bonds	12,013				54				(18		)		12,049
	Corporate debt securities	221,111				1,072				(1,113		)		221,070
	Asset-backed securities	72,763				396				(279		)		72,880
	Total Investments	$	413,816			$	1,551			$	(2,060	)		$	413,307
		Amortized				Gross Unrealized								Fair
		Cost				Gains				Losses				Value
	As of December 31, 2013	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	108,067			$	—			$	(1,461	)		$	106,606
	Municipal bonds	12,017				1				(85		)		11,933
	Corporate debt securities	221,899				157				(4,799		)		217,257
	Asset-backed securities	74,152				114				(974		)		73,292
	Total Investments	$	416,135			$	272			$	(7,319	)		$	409,088
Schedule of Investments by Maturity	'
	The amortized cost and fair values of available for sale securities at June 30, 2014 and December 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Because most asset-backed securities provide for periodic payments throughout their lives, they are listed below in separate categories.
	As of June 30, 2014	Amortized				Fair
		Cost				Value
		(In Thousands)
	Due in one year or less	$	2,674			$	2,675
	Due after one through five years	265,261				264,556
	Due after five through ten years	57,718				57,843
	Due after ten years	15,400				15,353
	Asset-backed securities	72,763				72,880
	Total Investments	$	413,816			$	413,307
	As of December 31, 2013	Amortized				Fair
		Cost				Value
		(In Thousands)
	Due in one year or less	$	—			$	—
	Due after one through five years	260,855				257,501
	Due after five through ten years	65,687				63,440
	Due after ten years	15,441				14,855
	Asset-backed securities	74,152				73,292
	Total Investments	$	416,135			$	409,088
Schedule of Net Realized Gain (Loss) on Investments	'
	Net Realized Investment Gains (Losses) on Investments
		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2014				2013				2014				2013
		(In Thousands)
	Corporate debt securities	$	—			$	488			$	—			$	517
	U.S. Treasury securities and obligations of U.S. government agencies	—				(16		)		—				(16		)
	Asset-backed securities	—				(20		)		—				(20		)
	Total Net Realized Investment Gains	$	—			$	452			$	—			$	481
Schedule of Aging Unrealized Losses	'
	For those securities in an unrealized loss position, the length of time the securities were in such a position is as follows:
		Less Than 12 Months									12 Months or Greater								Total
		# of Securities		Fair Value			Unrealized Losses				# of Securities		Fair Value			Unrealized Losses			# of Securities	Fair Value		Unrealized Losses
	As of June 30, 2014			(Dollars in Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	1		$	124		$	—			15		$	74,465		$	(650	)	16	$	74,589	$	(650	)
	Municipal bonds	—		—			—				1		1,732			(18		)	1	1,732		(18		)
	Corporate debt securities	5		2,216			(6		)		27		96,788			(1,107		)	32	99,004		(1,113		)
	Assets-backed securities	2		10,757			(101		)		6		27,130			(178		)	8	37,887		(279		)
	Total Investments	8		$	13,097		$	(107	)		49		$	200,115		$	(1,953	)	57	$	213,212	$	(2,060	)
		Less Than 12 Months									12 Months or Greater								Total
		# of Securities		Fair Value			Unrealized Losses				# of Securities		Fair Value			Unrealized Losses			# of Securities	Fair Value		Unrealized Losses
	As of December 31, 2013			(Dollars in Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	19		$	106,606		$	(1,461	)		—		$	—		$	—		19	$	106,606	$	(1,461	)
	Municipal bonds	2		4,915			(85		)		—		—			—			2	4,915		(85		)
	Corporate debt securities	47		187,714			(4,799		)		—		—			—			47	187,714		(4,799		)
	Assets-backed securities	11		58,225			(974		)		—		—			—			11	58,225		(974		)
	Total Investments	79		$	357,460		$	(7,319	)		—		$	—		$	—		79	$	357,460	$	(7,319	)
Schedule of Net Investment Income	'
	Net investment income is comprised of the following:
		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2014				2013				2014				2013
		(In Thousands)
	Fixed maturities	$	1,605			$	1,447			$	3,231			$	2,012
	Cash equivalents	—				—				—				2
	Investment income	1,605				1,447				3,231				2,014
	Investment expenses	(137		)		(40		)		(274		)		(197		)
	Net Investment Income	$	1,468			$	1,407			$	2,957			$	1,817

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements, Recurring and Nonrecurring	'
	The following is a list of those assets and liabilities that are measured at fair value by hierarchy level as of June 30, 2014 and December 31, 2013:
		Fair Value Measurements Using
	Assets and Liabilities at Fair Value	Quoted Prices in			Significant Other		Significant		Fair Value
		Active Markets for			Observable Inputs		Unobservable
		Identical Assets			(Level 2)		Inputs
		(Level 1)					(Level 3)
	As of June 30, 2014	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	49,911		$	57,397	$	—	$	107,308
	Municipal bonds	—			12,049		—		12,049
	Corporate debt securities	—			221,070		—		221,070
	Asset-backed securities	—			72,880		—		72,880
	Cash and cash equivalents	34,671			—		—		34,671
	Total Assets	$	84,582		$	363,396	$	—	$	447,978
	Warrant liability	$	—		$	—	$	4,552	$	4,552
	Total Liabilities	$	—		$	—	$	4,552	$	4,552
		Fair Value Measurements Using
	Assets and Liabilities at Fair Value	Quoted Prices in			Significant Other		Significant		Fair Value
		Active Markets for			Observable Inputs		Unobservable
		Identical Assets			(Level 2)		Inputs
		(Level 1)					(Level 3)
	As of December 31, 2013	(In Thousands)
	U.S. Treasury securities and obligations of U.S. government agencies	$	49,484		$	57,122	$	—	$	106,606
	Municipal bonds	—			11,933		—		11,933
	Corporate debt securities	—			217,257		—		217,257
	Asset-backed securities	—			73,292		—		73,292
	Cash and cash equivalents	55,929			—		—		55,929
	Total Assets	$	105,413		$	359,604	$	—	$	465,017
	Warrant liability	$	—		$	—	$	6,371	$	6,371
	Total Liabilities	$	—		$	—	$	6,371	$	6,371
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	'
	The following is a roll-forward of Level 3 liabilities measured at fair value for the six months ended June 30, 2014 and the year ended December 31, 2013:
	Level 3 Instruments Only	Warrant Liability
	Six Months Ended June 30, 2014	(In Thousands)
	Balance, January 1, 2014	$	6,371
	Change in fair value of warrant liability included in earnings	(1,769		)
	Gain on settlement of warrants	(37		)
	Issuance of common stock on warrant exercise	(13		)
	Balance, June 30, 2014	$	4,552
	Level 3 Instruments Only	Warrant Liability
	Year Ended December 31, 2013	(In Thousands)
	Balance, January 1, 2013	$	4,842
	Change in fair value of warrant liability included in earnings	1,529
	Balance, December 31, 2013	$	6,371

Reserves_for_Insurance_Claims_1

Reserves for Insurance Claims and Claim Expenses (Tables)	6 Months Ended
	Jun. 30, 2014
Insurance [Abstract]	'
Reconciliation of Liability for Insurance Claims and Claims Expenses	'
	The following table provides a reconciliation of the beginning and ending reserve balances for insurance claims and claims expenses for the six months ended June 30, 2014 and 2013:
		Six Months Ended
		2014		2013
		(In Thousands)
	Reserve at beginning of period	$	—	$	—
	Claims incurred:
	Claims and Claims expenses incurred in respect of default notices related to:
	Current year	28		—
	Prior years	—		—
	Total claims incurred	28		—
	Claims paid:
	Claims and Claims Expenses paid in respect of default notices related to:
	Current year	—		—
	Prior years	—		—
	Total claims paid	—		—
	Reserve at end of period	$	28	$	—

Software_and_Equipment_Tables

Software and Equipment (Tables)	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of Equipment and Software	'
	Software and equipment, net of accumulated amortization and depreciation, as of June 30, 2014 and December 31, 2013 consist of the following:
		As of June 30,			As of December 31,
		2014			2013
		(In Thousands)
	Software	$	17,617		$	14,140
	Equipment	561			542
	Leasehold improvements	904			141
	Subtotal	19,082			14,823
	Accumulated amortization and depreciation	(8,910		)	(5,947		)
	Software and equipment, net	$	10,172		$	8,876

Intangible_Assets_and_Goodwill1

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Indefinite-Lived Intangible Assets	'
	Intangible assets and goodwill, net, as of June 30, 2014 and December 31, 2013, consist of the following:
	As of June 30, 2014 and December 31, 2013	(In Thousands)		Expected Lives
	Goodwill	$	3,244	Indefinite
	State licenses	260		Indefinite
	GSE applications	130		Indefinite
	Total Intangible Assets and Goodwill	$	3,634

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Stock Option Activity	'
	A summary of option activity under our 2012 Stock Incentive Plan during the quarters ended June 30, 2014 and June 30, 2013 is as follows:
		Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Options outstanding at December 31, 2013	3,063		$	10.31	$	3.98
	Options granted	710		12.28		4.95
	Options exercised	(109	)	10		3.85
	Options forfeited	(64	)	11.16		4.37
	Options outstanding at June 30, 2014	3,600		$	10.69	$	4.17
		Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Options outstanding at December 31, 2012	2,547		$	10	$	3.86
	Options granted	532		11.78		4.56
	Options forfeited	(10	)	10		3.84
	Options outstanding at June 30, 2013	3,069		$	10.31	$	3.98
Schedule of Restricted Stock Units Activity	'
	A summary of RSU activity in the plan during the six months ended June 30, 2014 and June 30, 2013 is as follows:
		Shares		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Non-vested restricted stock units at December 31, 2013	1,242		$	7.75
	Restricted stock units granted	359		11.6
	Restricted stock units vested	(295	)	8.23
	Restricted stock units forfeited	(36	)	9.29
	Non-vested restricted stock units at June 30, 2014	1,270		$	8.68
		Shares		Weighted Average Grant Date Fair Value per Share
		(Shares in Thousands)
	Non-vested restricted stock units at December 31, 2012	1,429		$	7.35
	Restricted stock units granted	82		11.75
	Restricted stock units vested	(262	)	6.79
	Restricted stock units forfeited	—		—
	Non-vested restricted stock units at June 30, 2013	1,249		$	7.76

Statutory_Information_Tables

Statutory Information (Tables)	6 Months Ended
	Jun. 30, 2014
Insurance [Abstract]	'
Schedule of Risk to Capital	'
	NMIC and Re One's combined statutory net loss, statutory surplus and contingency reserve as of and for the six months ended June 30, 2014 and for the year ended December 31, 2013 were as follows:
		June 30, 2014			December 31, 2013
		(In Thousands)
	Statutory net loss	$	(24,637	)	$	(33,307	)
	Statutory surplus	185,061			189,698
	Contingency reserve	4,312			2,314
	he risk-to-capital calculation for each of our insurance subsidiaries, as well as our combined risk-to-capital calculation, as of June 30, 2014, is presented below.
	As of June 30, 2014	NMIC			Re One			Combined
		(In Thousands)
	Primary risk-in-force
	Direct	$	220,949		$	—		$	220,949
	Assumed	—			17,969			17,969
	Ceded	(17,969		)	—			(17,969		)
	Total primary risk-in-force	202,980			17,969			220,949
	Pool risk-in-force (1)
	Direct	93,090			—			93,090
	Assumed	—			25,163			25,163
	Ceded	(25,163		)	—			(25,163		)
	Total pool risk-in-force	67,927			25,163			93,090
	Total risk-in-force	270,907			43,132			314,039
	Statutory policyholders' surplus	175,784			9,277			185,061
	Statutory contingency reserve	3,604			708			4,312
	Total statutory policyholders' position	$	179,388		$	9,985		$	189,373
	Risk-to-Capital (2)	1.5:1			4.3:1			1.7:1
	(1)	Pool risk-in-force as shown in the table above is equal to the aggregate stop loss less a deductible.
	(2)	Represents total risk-in-force divided by statutory policyholders' position which is the metric by which the majority of state insurance regulators will assess our capital adequacy. Additionally, pursuant to the 2013 Fannie Mae pool agreement, we are required to maintain the greater of (a) the risk-to-capital requirements outlined in Fannie Mae's January 2013 approval letter or (b) a risk-to-capital ratio of 18:1 on primary business plus statutory capital equal to the amount of net risk-in-force of the pool.

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Details) (USD $)	1 Months Ended	3 Months Ended		6 Months Ended			0 Months Ended	1 Months Ended	0 Months Ended
	Apr. 30, 2012	Jun. 30, 2014	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Nov. 30, 2011	Apr. 30, 2012	Nov. 08, 2013	Jun. 30, 2014
		state		state			MAC Financial Holding Corporation and Subsidiaries [Member]	Class A	IPO [Member]	Combined [Member]
Business Acquisition [Line Items]	'	'	'	'	'	'	'	'	'	'
Primary insurance in force	'	$939,800,000	'	$939,800,000	'	'	'	'	'	'
Pool insurance in force	'	4,900,000,000	'	4,900,000,000	'	'	'	'	'	'
Risk in Force Primary	'	'	'	'	'	'	'	'	'	220,949,000
Pool risk in force	'	'	'	'	'	'	'	'	'	93,090,000	[1]
Cash, common stock and warrants issued for acquisition	'	'	'	'	'	'	8,500,000	'	'	'
Liabilities assumed in acquisition	'	'	'	'	'	'	1,300,000	'	'	'
Tax liabilities assumed in acquisition	'	'	'	'	'	'	100,000	'	'	'
Common stock offered and sold, (in shares)	'	'	'	'	'	'	'	55,000,000	2,400,000	'
Number of States in which Entity Operates	'	50	'	50	'	'	'	'	'	'
Common stock issue price (usd per share)	'	'	'	'	'	'	'	$10	'	'
Issuance of common stock	'	'	'	1,086,000	0	'	'	550,000,000	'	'
Underwriting fee and other offering expense (percent)	7.00%	'	'	'	'	'	'	'	6.00%	'
Underwriting fee and other offering expense	510,000,000	'	'	'	'	'	'	'	28,000,000	'
Statutory capital and surplus required	'	150,000,000	'	150,000,000	'	'	'	'	'	'
Required Risk-to-Capital Ratio on Agreements Per GSE Approval, Maximum	'	15	'	15	'	'	'	'	'	'
Antidilutive securities excluded from computation of earnings per share (in shares)	'	5,900,000	5,300,000	'	'	'	'	'	'	'
Deferred policy acquisition costs, net	'	$1,051,000	'	$1,051,000	'	$90,200	'	'	'	'
[1]	Pool risk-in-force as shown in the table above is equal to the aggregate stop loss less a deductible.

Common_Stock_Offering_Details

Common Stock Offering (Details) (USD $)	1 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Apr. 30, 2012	Apr. 30, 2012	Nov. 08, 2013
		Class A	IPO [Member]
Class of Stock [Line Items]	'	'	'
Common stock offered and sold, (in shares)	'	55,000,000	2,400,000
Underwriting fee and other offering expense	$510	'	$28
Underwriting fee and other offering expense (percent)	7.00%	'	6.00%

Investments_Narrative_Details

Investments - Narrative (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'
Unrealized losses	($2,060,000)	($7,319,000)
Unrealized Losses, 12 Months or Greater	-1,953,000	0
U.S. Treasury securities and obligations of U.S. government agencies [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Unrealized losses	-650,000	-1,461,000
Unrealized Losses, 12 Months or Greater	-650,000	0
Cash and investments held with various state insurance departments	$7,100,000	$7,000,000

Investments_Fair_Values_and_Gr

Investments - Fair Values and Gross Unrealized Gains and Losses on Investments (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	$413,816	$416,135
Gross Unrealized Gains	1,551	272
Gross Unrealized (Losses)	-2,060	-7,319
Fair Value	413,307	409,088
U.S. Treasury securities and obligations of U.S. government agencies [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	107,929	108,067
Gross Unrealized Gains	29	0
Gross Unrealized (Losses)	-650	-1,461
Fair Value	107,308	106,606
Municipal bonds [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	12,013	12,017
Gross Unrealized Gains	54	1
Gross Unrealized (Losses)	-18	-85
Fair Value	12,049	11,933
Corporate debt securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	221,111	221,899
Gross Unrealized Gains	1,072	157
Gross Unrealized (Losses)	-1,113	-4,799
Fair Value	221,070	217,257
Asset-backed securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	72,763	74,152
Gross Unrealized Gains	396	114
Gross Unrealized (Losses)	-279	-974
Fair Value	$72,880	$73,292

Investments_Scheduled_Maturiti

Investments - Scheduled Maturities (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract]	'	'
Amortized Cost, Due in one year or less	$2,674	$0
Amortized Cost, Due after one through five years	265,261	260,855
Amortized Cost, Due after five through ten years	57,718	65,687
Amortized Cost, Due after ten years	15,400	15,441
Amortized Cost, Total Investments	413,816	416,135
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]	'	'
Fair Value, Due in one year or less	2,675	0
Fair Value, Due after one through five years	264,556	257,501
Fair Value, Due after five through ten years	57,843	63,440
Fair Value Due after ten years	15,353	14,855
Fair Value, Total Investments	413,307	409,088
Asset-backed securities [Member]	'	'
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract]	'	'
Amortized Cost, Total Investments	72,763	74,152
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]	'	'
Fair Value, Total Investments	72,880	73,292
Total bonds [Member]	'	'
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract]	'	'
Amortized Cost, Total Investments	413,816	416,135
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]	'	'
Fair Value, Total Investments	$413,307	$409,088

Investments_Net_Realized_Inves

Investments - Net Realized Investment (Losses) Gains on Investments (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Net realized investment gains	$0	$452	$0	$481
Corporate debt securities [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Net realized investment gains	0	488	0	517
U.S. Treasury securities and obligations of U.S. government agencies [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Net realized investment gains	0	-16	0	-16
Asset-backed securities [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Net realized investment gains	$0	($20)	$0	($20)

Investments_Unrealized_Losses_

Investments - Unrealized Losses (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	security	security
	securities
Schedule of Available-for-sale Securities [Line Items]	'	'
Number of securities, less than 12 months	8	79
Fair Value, Less than 12 Months	$13,097	$357,460
Unrealized Losses, Less than 12 Months	-107	-7,319
Number of securities,12 months or greater	49	0
Fair Value, 12 Months or Greater	200,115	0
Unrealized Losses, 12 Months or Greater	-1,953	0
Number of securities, Total	57	79
Fair Value, Total	213,212	357,460
Unrealized Losses	-2,060	-7,319
U.S. Treasury securities and obligations of U.S. government agencies [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Number of securities, less than 12 months	1	19
Fair Value, Less than 12 Months	124	106,606
Unrealized Losses, Less than 12 Months	0	-1,461
Number of securities,12 months or greater	15	0
Fair Value, 12 Months or Greater	74,465	0
Unrealized Losses, 12 Months or Greater	-650	0
Number of securities, Total	16	19
Fair Value, Total	74,589	106,606
Unrealized Losses	-650	-1,461
Municipal bonds [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Number of securities, less than 12 months	0	2
Fair Value, Less than 12 Months	0	4,915
Unrealized Losses, Less than 12 Months	0	-85
Number of securities,12 months or greater	1	0
Fair Value, 12 Months or Greater	1,732	0
Unrealized Losses, 12 Months or Greater	-18	0
Number of securities, Total	1	2
Fair Value, Total	1,732	4,915
Unrealized Losses	-18	-85
Corporate debt securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Number of securities, less than 12 months	5	47
Fair Value, Less than 12 Months	2,216	187,714
Unrealized Losses, Less than 12 Months	-6	-4,799
Number of securities,12 months or greater	27	0
Fair Value, 12 Months or Greater	96,788	0
Unrealized Losses, 12 Months or Greater	-1,107	0
Number of securities, Total	32	47
Fair Value, Total	99,004	187,714
Unrealized Losses	-1,113	-4,799
Asset-backed securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Number of securities, less than 12 months	2	11
Fair Value, Less than 12 Months	10,757	58,225
Unrealized Losses, Less than 12 Months	-101	-974
Number of securities,12 months or greater	6	0
Fair Value, 12 Months or Greater	27,130	0
Unrealized Losses, 12 Months or Greater	-178	0
Number of securities, Total	8	11
Fair Value, Total	37,887	58,225
Unrealized Losses	($279)	($974)

Investments_Net_Investment_Inc

Investments - Net Investment Income (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Investment income	$1,605	$1,447	$3,231	$2,014
Investment expenses	-137	-40	-274	-197
Net Investment Income	1,468	1,407	2,957	1,817
Fixed maturities [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Investment income	1,605	1,447	3,231	2,012
Cash equivalents [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Investment income	$0	$0	$0	$2

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Assets and Liabilities at Fair Value (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	$413,307	$409,088
Warrant liability, at fair value	4,552	6,371
Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	34,671	55,929
Total Assets	447,978	465,017
Warrant liability, at fair value	4,552	6,371
Financial and Nonfinancial Liabilities, Fair Value Disclosure	4,552	6,371
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	34,671	55,929
Total Assets	84,582	105,413
Warrant liability, at fair value	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	0	0
Total Assets	363,396	359,604
Warrant liability, at fair value	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	0	0
Total Assets	0	0
Warrant liability, at fair value	4,552	6,371
Financial and Nonfinancial Liabilities, Fair Value Disclosure	4,552	6,371
U.S. Treasury securities and obligations of U.S. government agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	107,308	106,606
U.S. Treasury securities and obligations of U.S. government agencies [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	107,308	106,606
U.S. Treasury securities and obligations of U.S. government agencies [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	49,911	49,484
U.S. Treasury securities and obligations of U.S. government agencies [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	57,397	57,122
U.S. Treasury securities and obligations of U.S. government agencies [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	0	0
Municipal bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	12,049	11,933
Municipal bonds [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	12,049	11,933
Municipal bonds [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	0	0
Municipal bonds [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	12,049	11,933
Municipal bonds [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	0	0
Corporate debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	221,070	217,257
Corporate debt securities [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	221,070	217,257
Corporate debt securities [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	0	0
Corporate debt securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	221,070	217,257
Corporate debt securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	0	0
Asset-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	72,880	73,292
Asset-backed securities [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	72,880	73,292
Asset-backed securities [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	0	0
Asset-backed securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	72,880	73,292
Asset-backed securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale Securities	$0	$0

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments - Rollforward of Level 3 (Details) (Significant Unobservable Inputs (Level 3) [Member], Warrant Liability [Member], USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Significant Unobservable Inputs (Level 3) [Member] | Warrant Liability [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Beginning balance	$6,371	$4,842
Change in fair value of warrant liability included in earnings	-1,769	1,529
Gain on settlement of warrants	-37	'
Issuance of common stock on warrant exercise	-13	'
Ending balance	$4,552	$6,371

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments - Narrative (Details) (Significant Unobservable Inputs (Level 3) [Member], USD $)	6 Months Ended
	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Volatility Assumption	39.00%
Warrant Liability [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Share Price (in dollars per share)	10.5
Risk free rate	2.02%
Expected term	'6 years 6 months 30 days
Expected dividend rate	0.00%

Reserves_for_Insurance_Claims_2

Reserves for Insurance Claims and Claim Expenses (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Insurance [Abstract]	'	'	'
Reserve for insurance claims and claims expenses	$28,000	'	$0
Deductible on policy	10,300,000	'	'
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]	'	'	'
Reserve at beginning of period	0	0	'
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims [Abstract]	'	'	'
Current year	28,000	0	'
Prior years	0	0	'
Total claims incurred	28,000	0	'
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid [Abstract]	'	'	'
Current year	0	0	'
Prior years	0	0	'
Total claims paid	0	0	'
Reserve at end of period	$28,000	$0	'

Software_and_Equipment_Details

Software and Equipment (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Property plant and equipment	$19,082	$14,823
Accumulated amortization and depreciation	-8,910	-5,947
Software and equipment, net	10,172	8,876
Software	'	'
Property, Plant and Equipment [Line Items]	'	'
Property plant and equipment	17,617	14,140
Equipment	'	'
Property, Plant and Equipment [Line Items]	'	'
Property plant and equipment	561	542
Leasehold improvements	'	'
Property, Plant and Equipment [Line Items]	'	'
Property plant and equipment	$904	$141

Software_and_Equipment_Narrati

Software and Equipment - Narrative (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Significant Acquisitions and Disposals [Line Items]	'	'	'	'
Depreciation and amortization	$1.70	$1.80	$3	$1.80
MAC Financial Holding Corporation and Subsidiaries [Member]	'	'	'	'
Significant Acquisitions and Disposals [Line Items]	'	'	'	'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	$5	'	$5	'

Intangible_Assets_and_Goodwill2

Intangible Assets and Goodwill (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Indefinite-lived Intangible Assets [Line Items]	'	'
Goodwill and other indefinite lived intangible assets	$3,634,000	$3,634,000
Goodwill impairment	0	'
MAC Financial Holding Corporation and Subsidiaries [Member]	'	'
Indefinite-lived Intangible Assets [Line Items]	'	'
Goodwill	3,244,000	3,244,000
Goodwill and other indefinite lived intangible assets	3,634,000	390,000
MAC Financial Holding Corporation and Subsidiaries [Member] | State licenses [Member]	'	'
Indefinite-lived Intangible Assets [Line Items]	'	'
Intangible assets	260,000	260,000
MAC Financial Holding Corporation and Subsidiaries [Member] | GSE Approvals [Member]	'	'
Indefinite-lived Intangible Assets [Line Items]	'	'
Intangible assets	$130,000	$130,000

Income_Taxes_Narrative_Details

Income Taxes - Narrative (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'	'	'	'	'
Federal statutory income tax rate	'	'	35.00%	'	'
Effective Income Tax Rate Reconciliation, Percent	9.20%	0.00%	4.40%	0.00%	'
Income tax benefit	($1,297,000)	$0	($1,297,000)	$0	'
Tax provision expense netted against unrealized gains in OCI	'	'	2,700,000	'	'
Deferred tax liabilities, net	($133,000)	'	($133,000)	'	($133,000)

ShareBased_Compensation_Stock_

Share-Based Compensation - Stock Option Activity (Details) (The 2012 Stock Incentive Plan [Member], USD $)	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
The 2012 Stock Incentive Plan [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]	'	'
Options beginning balance (in shares)	3,063	2,547
Options granted (in shares)	710	532
Less: Options exercised (in shares)	-109	'
Less: Options forfeited (in shares)	-64	-10
Options ending balance (in shares)	3,600	3,069
Weighted Average Grant Date Fair Value per Share	'	'
Options beginning balance (in dollars per share)	$10.31	$10
Options granted (in dollars per share)	$12.28	$11.78
Less: Options exercised (in dollars per share)	$10	'
Less: Options forfeited (in dollars per share)	$11.16	$10
Options ending balance (in dollars per share)	$10.69	$10.31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]	'	'
Options beginning balance (in dollars per share)	$3.98	$3.86
Options granted (in dollars per share)	$4.95	$4.56
Less: Options exercised (in dollars per share)	$3.85	'
Less: Options forfeited (in dollars per share)	$4.37	$3.84
Options ending balance (in dollars per share)	$4.17	$3.98

ShareBased_Compensation_Restri

Share-Based Compensation - Restricted Stock Units Activity (Details) (The 2012 Stock Incentive Plan [Member], Restricted Stock Units [Member], USD $)	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
The 2012 Stock Incentive Plan [Member] | Restricted Stock Units [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]	'	'
Restricted Stock beginning balance (in shares)	1,242	1,429
Restricted stock units granted (in shares)	359	82
Less: Restricted stock units vested (in shares)	-295	-262
Less: Restricted stock units forfeited (in shares)	-36	0
Restricted Stock ending balance (in shares)	1,270	1,249
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]	'	'
Restricted Stock beginning balance (in dollars per share)	$7.75	$7.35
Restricted Stock Units Granted (in dollars per share)	$11.60	$11.75
Less: Restricted Stock Units Vested (in dollars per share)	$8.23	$6.79
Less: Restricted Stock Units Forfeited (in dollars per share)	$9.29	$0
Restricted Stock ending balance (in dollars per share)	$8.68	$7.76

ShareBased_Compensation_Narrat

Share-Based Compensation - Narrative (Details) (USD $)	6 Months Ended								6 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012	8-May-14	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
	The 2012 Stock Incentive Plan [Member]	The 2012 Stock Incentive Plan [Member]	The 2012 Stock Incentive Plan [Member]	The 2012 Stock Incentive Plan [Member]	The 2012 Stock Incentive Plan [Member]	2014 Omnibus Incentive Plan	Subject to Market and Service Conditions [Member]	Subject to Service Conditions [Member]	Subject to Service Conditions [Member]	Subject to Service Conditions [Member]
		Restricted Stock Units [Member]	Restricted Stock Units [Member]	Restricted Stock Units [Member]	Restricted Stock Units [Member]		The 2012 Stock Incentive Plan [Member]	The 2012 Stock Incentive Plan [Member]	Minimum [Member]	Maximum [Member]
							Restricted Stock Units [Member]	Restricted Stock Units [Member]	The 2012 Stock Incentive Plan [Member]	The 2012 Stock Incentive Plan [Member]
									Restricted Stock Units [Member]	Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	109,000	'	'	'	'	'	'	'	'	'
Number of options vested (in shares)	1,600,000	'	'	'	'	'	'	'	'	'
Weighted average exercise price for options vested (in dollars per share)	$10.21	'	'	'	'	'	'	'	'	'
Weighted average remaining contractual term	'7 years 9 months	'	'	'	'	'	'	'	'	'
Options vested aggregate value	$0.70	'	'	'	'	'	'	'	'	'
Restricted stock units outstanding (in shares)	'	1,270,000	1,242,000	1,249,000	1,429,000	'	500,000	800,000	'	'
Restricted stock vesting period	'	'	'	'	'	'	'	'	'1 year	'3 years
Shares authorized for grant under the Plan	'	'	'	'	'	4,000,000	'	'	'	'

Warrants_Details

Warrants (Details) (USD $)	3 Months Ended			6 Months Ended			3 Months Ended
	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Apr. 30, 2012	Mar. 31, 2014
						MAC Financial Holding Corporation and Subsidiaries [Member]	Class A
							Common stock
Line of Credit Facility [Line Items]	'	'	'	'	'	'	'
Warrants issued (in shares)	'	'	'	'	'	992,000	'
Exercise price of warrants (in dollars per warrant)	'	'	'	'	'	10	'
Warrants value	'	'	'	'	'	$5,100,000	'
Class of Warrant or Right, Number of Warrants Exercised During Period	'	7,800	'	'	'	'	'
Issuance of Class A shares of common stock as part of cashless exercise of warrants, shares	'	'	'	'	'	'	1,115
Gain from settlement of warrants	$0	'	$0	$37,000	$0	'	'

Statutory_Information_Statutor

Statutory Information - Statutory Income (Details) (Combined [Member], USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Combined [Member]	'	'
Statutory Accounting Practices [Line Items]	'	'
Statutory net loss	($24,637)	($33,307)
Statutory surplus	185,061	189,698
Contingency reserve	$4,312	$2,314

Statutory_Information_Narrativ

Statutory Information - Narrative (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
	state		policy
Statutory Accounting Practices [Line Items]	'	'	'	'
Number of states which require minimum amount of statutory capital relative to risk in force	15	'	'	'
Statutory capital and surplus required	$150,000,000	'	'	'
Mortgage insurance, percentage of indebtedness on single loan	25.00%	'	'	'
Number of policies in force	'	'	6	'
Shareholders' equity	443,910,000	463,217,000	'	488,748,000
Investment in subsidiaries, at equity in net assets	'	276,000,000	'	'
Ordinary dividends, restriction with regards to capital surplus	10.00%	'	'	'
Combined [Member]	'	'	'	'
Statutory Accounting Practices [Line Items]	'	'	'	'
Mortgage Insurance Risk in Force	314,039,000	'	257,000	'
NMIC [Member]	'	'	'	'
Statutory Accounting Practices [Line Items]	'	'	'	'
Mortgage Insurance Risk in Force	270,907,000	'	'	'
Subsidiaries [Member]	'	'	'	'
Statutory Accounting Practices [Line Items]	'	'	'	'
Shareholders' equity	'	$193,000,000	'	'
Maximum [Member]	'	'	'	'
Statutory Accounting Practices [Line Items]	'	'	'	'
Risk-to-capital	25	'	'	'
WISCONSIN [Member] | Maximum [Member]	'	'	'	'
Statutory Accounting Practices [Line Items]	'	'	'	'
Potential risk In force to capital, ratio	25	'	'	'
Fannie Mae [Member]	'	'	'	'
Statutory Accounting Practices [Line Items]	'	'	'	'
Risk-to-capital	18	'	'	'

Statutory_Information_Risk_to_

Statutory Information - Risk to Capital (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
NMIC [Member]	'		'	'
Primary risk-in-force	'		'	'
Direct	$220,949		'	'
Assumed	0		'	'
Ceded	-17,969		'	'
Total primary risk-in-force	202,980		'	'
Pool risk-in-force	'		'	'
Direct	93,090	[1]	'	'
Assumed	0	[1]	'	'
Ceded	-25,163	[1]	'	'
Total pool risk-in-force	67,927	[1]	'	'
Total risk-in-force	270,907		'	'
Statutory policyholders' surplus	175,784		'	'
Statutory contingency reserve	3,604		'	'
Total statutory policyholders' position	179,388		'	'
Risk to capital ratio	1.5	[2]	'	'
Re One [Member]	'		'	'
Primary risk-in-force	'		'	'
Direct	0		'	'
Assumed	17,969		'	'
Ceded	0		'	'
Total primary risk-in-force	17,969		'	'
Pool risk-in-force	'		'	'
Direct	0	[1]	'	'
Assumed	25,163	[1]	'	'
Ceded	0	[1]	'	'
Total pool risk-in-force	25,163	[1]	'	'
Total risk-in-force	43,132		'	'
Statutory policyholders' surplus	9,277		'	'
Statutory contingency reserve	708		'	'
Total statutory policyholders' position	9,985		'	'
Risk to capital ratio	4.3	[2]	'	'
Combined [Member]	'		'	'
Primary risk-in-force	'		'	'
Direct	220,949		'	'
Assumed	17,969		'	'
Ceded	-17,969		'	'
Total primary risk-in-force	220,949		'	'
Pool risk-in-force	'		'	'
Direct	93,090	[1]	'	'
Assumed	25,163	[1]	'	'
Ceded	-25,163	[1]	'	'
Total pool risk-in-force	93,090	[1]	'	'
Total risk-in-force	314,039		'	257
Statutory policyholders' surplus	185,061		189,698	'
Statutory contingency reserve	4,312		'	'
Total statutory policyholders' position	$189,373		'	'
Risk to capital ratio	1.7	[2]	'	'
[1]	Pool risk-in-force as shown in the table above is equal to the aggregate stop loss less a deductible.
[2]	Represents total risk-in-force divided by statutory policyholders' position which is the metric by which the majority of state insurance regulators will assess our capital adequacy. Additionally, pursuant to the 2013 Fannie Mae pool agreement, we are required to maintain the greater of (a) the risk-to-capital requirements outlined in Fannie Mae's January 2013 approval letter or (b) a risk-to-capital ratio of 18:1 on primary business plus statutory capital equal to the amount of net risk-in-force of the pool.