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MICA: Mortgage insurers write $10.4 billion in new business

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Private mortgage insurers belonging to Mortgage Insurance Companies of America (MICA) wrote $10.4 billion in new primary mortgage insurance in November.

MICA member companies include Genworth Mortgage Insurance Corp. (GNW), Mortgage Guaranty Insurance Corp. and Radian Guaranty Inc. (RDN).

MICA members experienced 23,485 defaults in November and had 19,801 cures.

About 39,000 borrowers used private mortgage insurance to either buy or refinance a home in November, MICA said.

Overall, MICA member companies received 41,952 applications for private MI insurance in November.

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