Radian: Mortgage delinquencies steadily decrease

Writes more private mortgage insurance

Private mortgage insurer Radian (RDN) wrote $3.43 billion in new primary mortgage insurance in December 2014, compared to $2.85 billion a year ago.

The insurer began the month with 45,908 in its delinquent inventory and ended the period with 45,319 delinquencies on file.   

One year ago, it stood at 60,909 loans, and back in October 2014, the company reported ending with a primary delinquent inventory of 46,843 loans in September

There were 4,004 new delinquencies in December, which were offset by 3,560 cures, 777 paid-off mortgages and 256 rescissions and denials.

Meanwhile, private mortgage insurer stocks are quickly dropping in the market due to news that President Obama may announce an executive action to lower Federal Housing Administraion premiums by as much as 50 basis points during his speech on Thursday in Phoenix. 

The federal government’s home mortgage insurance program is operating in the black, but its insurance premiums remain at record-high levels.

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