As of
                                      September 30, December 31, September 30,
                                           2004         2003          2003
       Direct Primary Insurance In
        Force ($ millions)                179,827      189,632       190,963
       Direct Primary Risk In Force
        ($ millions)                       46,535       48,658        48,808
       Direct Pool Risk In Force
        ($ millions) (a)                    2,998        2,895         2,753
       Mortgage Guaranty Insurance
        Corporation - Risk-to-capital
         ratio                              7.1:1        8.1:1         8.2:1
       Primary Insurance:
         Insured Loans                  1,447,051    1,551,331     1,573,265
         Persistency                        59.4%        47.1%         44.9%
       Total loans delinquent             83,940       86,372        85,039
       Percentage of loans delinquent
        (delinquency rate)                  5.80%        5.57%         5.41%
       Loans delinquent excluding bulk
        loans                             43,496       45,259        44,717
       Percentage of loans delinquent
        excluding bulk loans (delinquency
        rate)                                3.80%        3.76%         3.67%
       Bulk loans delinquent               40,444       41,113        40,322
       Percentage of bulk loans delinquent
        (delinquency rate)                  13.40%       11.80%        11.41%
       A-minus and subprime credit loans
        delinquent (b)                     35,135       34,525        33,583
       Percentage of A-minus and subprime
        credit loans delinquent
        (delinquency rate)                  15.75%       14.14%        13.73%

    (a) Represents contractual aggregate loss limits and, at September 30,
        2004, December 31, 2003 and September 30, 2003, respectively, for
        $4.8 billion, $4.9 billion and $4.0 billion of risk without such
        limits, risk is calculated at $395 million, $353 million and
        $288 million, the estimated amounts that would credit enhance these
        loans to 'AA' level based on a rating agency model.
    (b) A-minus and subprime credit is included in flow, bulk and total.