NMI Holdings Inc. (NMIH): Hayman Advisors Decreases Its Stake

1

Names of Reporting Persons.

Hayman Investments, L.L.C.

2

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)           [ ]

(b)           [ ]

3

SEC Use Only

4

Source of Funds (See Instructions):

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e):

[ ]

6

Citizenship or Place of Organization.

Texas

Number

of Shares

Beneficially

Owned by

Each

Reporting

Person With

7           Sole Voting Power

0

8           Shared Voting Power

5,308,700 shares of Common Stock

9            Sole Dispositive Power

0

10           Shared Dispositive Power

5,308,700 shares of Common Stock

11

Aggregate Amount Beneficially Owned by Each Reporting Person

5,308,700 shares of Common Stock

12

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)     [ ]

13

Percent of Class Represented by Amount in Row (11)

9.0%

14

Type of Reporting Person (See Instructions)

HC, OO (Limited Liability Company)