NMI HLDGS INC

Ticker: NMIH CUSIP: 629209305 Class: Common Stock

M.D. Sass, Inc.'s Holding History (CIK: 0000922940)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 382,380 Value ($000) $3,308 Avg Close $9.76 Range $8.17 - $10.94

Q2 2014

Shares 382,380 Value ($000) $4,015 Avg Close $10.96 Range $9.75 - $11.82

Q1 2014

Shares 400,000 Value ($000) $4,688 Avg Close $11.87 Range $10.32 - $13.94

Q4 2013

Shares 400,000 Value ($000) $5,092 Avg Close $13.30 Range $11.48 - $15.24

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	382,380	$3,308	$9.76	$8.17 - $10.94
Q2 2014	382,380	$4,015	$10.96	$9.75 - $11.82
Q1 2014	400,000	$4,688	$11.87	$10.32 - $13.94
Q4 2013	400,000	$5,092	$13.30	$11.48 - $15.24