Key Takeaways NMI Holdings benefits from housing strength and greater reliance on mortgage insurance.The company expands with prime loans, a broader customer reach and strong partnerships.Rising defaults, competition and higher debt weigh on margins and flexibility.Shares of NMI Holdings, Inc. (NMIH) are trading at a discount compared to the Zacks Insurance - Property and Casualty industry. Its price-to-book value of 1.26X is lower than the industry average of 1.56X. Image Source: Zacks Investment ResearchH ...