Mortgage insurers represented by the Mortgage Insurance Companies of America wrote $7.1 billion in new primary mortgage insurance in April, up from $6.7 billion in March.
That's almost double the $3.7 billion in new mortgage insurance written during the same month a year earlier.
The number of primary mortgage insurance contracts in force in April hit $395.7 billion.
MICA members, which include Genworth Mortgage Insurance Corp. ($10.74 0.13%), MGIC ($6.07 0.11%) and Radian Guaranty ($13.69 0.42%), reported that 30,575 borrowers used private mortgage insurance when buying a home or refinancing a mortgage in April.
The companies received a total of 33,013 mortgage insurance applications during the same month.
MICA members recorded 22,569 loan defaults and 20,678 loan cures in April.
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