TO: |
Interested Parties |
FROM: |
NAIC |
DATE: |
June 8, 2004 |
SUBJECT: |
Mortgage Loan Industry Experience Factor for the June 30, 2004 Quarterly Statement |
The Average Industry Experience Factor (AvIEF) to be used for the June 30, 2004 quarterly statement is 0.018 percent. The AvIEF is defined in the Asset Valuation Reserve section of the NAIC’s Quarterly and Annual Statement Instructions Life, Accident & Health for the year 2004. The IEF is an average of the mortgage data received at the NAIC for eight (8) previous quarters as follows:
2nd Quarter 2002 |
0.018% |
3rd Quarter 2002 |
0.017% |
4th Quarter 2002 |
0.023% |
1st Quarter 2003 |
0.019% |
2nd Quarter 2003 |
0.018% |
3rd Quarter 2003 |
0.017% |
4th Quarter 2003 |
0.019% |
1st Quarter 2004 |
0.013% |
Average IEF |
0.018% |
Individual companies should utilize information from the same quarters in calculating their average Company’s Experience Factor (AvCEF).
Contact Dan Swanson of the NAIC by phone at (816) 783 - 8412 or by e-mail at DSwanson@naic.org with any questions concerning this factor.
The industry experience factor is posted quarterly on the NAIC home page at the address of http://www.naic.org/svo/meacalc/index.htm. Or, go to the NAIC home page at http://www.naic.org and select "Divisions & Departments", "Securities Valuation Office (SVO)", "Filing Instructions and Forms" and then “Industry Experience Factor for Mortgages (IEF)”.