Radian, which provides private mortgage insurance, risk management products and real estate services to financial institutions, just reported an increase of 60% to $12.9 billion for the quarter, up from $8.1 billion the first quarter of 2016 and up 10% from last year’s $11.8 billion.

Last quarter, new mortgage insurance written dropped to $8.1 billion, compared to $9.1 billion in the fourth quarter of 2015 and $9.4 billion in the prior-year quarter.

Net income nearly doubled $98.1 million or $0.44 per diluted share. Up from $80 million last year.

Of the new insurance written, about 18% was from refinances, a slight decrease from last quarter’s 19% and from last year’s 23%.

“Radian continued to deliver excellent results in the second quarter, adding to insurance in force with high-quality new business that is expected to generate attractive returns and strengthen our company,” Radian CEO S.A. Ibrahim said.

Radian is shifting toward a safer approach as 57% of its primary mortgage insurance risk consisted of loans with a FICO score of at least 740, compared to 26% of loans in 2007.

The percentage of mortgage insurance that remained on the company’s books after one year was 79.9%, up slightly from last quarter’s 79.4% and down slightly from last year’s 80.1%.

Despite this, the mortgage insurance provision for losses increased to $50.1 million in the second quarter, up from $43.3 million last quarter, and $31.6 million last year.

Mortgage insurance loss reserves totaled $848.8 million this quarter compared to $891.3 million last quarter and $1.2 billion last year.

Primary delinquent loans decreased only 3% from last quarter, but 21% from last year.