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Insurers belonging to the Mortgage Insurance Companies of America (MICA) association wrote $10.7 billion worth of new mortgage insurance on conventional mortgage loans in December.
MICA members include Genworth Mortgage Insurance ($11.27 0%), Mortgage Guaranty Insurance Corp. ($6.35 -0.09%) and Radian Guaranty Inc. ($12.73 0%).
By the end of December, the member companies had $400.7 billion in primary mortgage insurance in force.
The companies reported that 36,543 borrowers used private mortgage insurance when either buying or refinancing a home in December.
The number of applications received in December totaled 38,915 filings. During the month, the association reported 24,585 defaults and 20,048 cures on insured mortgages.
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