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. (GNW), MGIC (MTG) and Radian Guaranty (RDN), 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.