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January cited little change from February in borrowers using private mortgage insurance, according to data from the Mortgage Insurance Companies of America.
The data is complied by analyzing information from the trade group's member firms, including Genworth Mortgage Insurance Corp. ($10.78 0%), Guaranty Insurance Corp. and Radian Guaranty ($13.62 -0.07%).
MICA reported that 36,923 borrowers used private MI in January, which is a slight increase from 36,543 in December.
New insurance written on conventional mortgages hit $10.5 billion in January, a minor decrease from $10.7 in December.
Overall, 39,571 applications from borrowers were submitted for mortgage insurance.
The month showed 20,568 insurance cures and 23,538 defaults on loans insured by MICA. This is a small drop from 20,048 insurance cures and 24,585 defaults in December.
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