MGIC writes $1.4 billion in new insurance business
Mortgage insurer Mortgage Guaranty Investment Corp. (MTG) wrote $1.4 billion in new insurance during the month of October, up from $1.3 billion in new insurance during the same time period last year. In its monthly operating results, MGIC said it had 180,894 delinquent loans at the beginning of October. By the end of the month, the company had 179,824 delinquent loans. During the month, 11,040 loans were cured, 4,074 were classified as less paids and 14,545 new delinquency claims were reported to the insurer. For the third quarter ended Sept. 30, MGIC wrote $3.9 billion in new business and had $179 billion in primary insurance in force covering 1.1 million mortgages. Write to Kerri Panchuk.