Primary new mortgage insurance maintained its downward trajectory and dropped to $3 billion, according to MGIC Investment’s (MTG) November operational summery of its insurance subsidiaries for its primary mortgage insurance.

Last month, it dropped $3.5 billion, while it fell $3.9 billion and $4 billion in September and August, respectively.  

The month began with 64,156 loans in its primary delinquent inventory and ended with 62,445 delinquencies on file.

MGIC posted 5,503 new notices, which was offset by 6,091 cures, 1,060 paid-off mortgages and 63 recessions and denials.