Mortgage insurer Radian Guaranty Inc. (RDN) wrote $3.08 billion in new primary insurance during the month of June, up from $2.73 billion in May and $2.55 billion in April.
The company’s inventory of delinquent loans fell from 99,694 mortgages at the beginning of June to 98,450 by month’s end.
During the survey period, the insurers recorded 6,288 new delinquencies, while curing 4,373 loans. The company also reduced delinquencies with 1,697 loans paying off and 1,462 going into rescission or being denied by the company.
During the same period, Radian’s product mix showed the company favoring an increase in its monthly premium business.
“Of the $8.35 billion in new business written in the second quarter, 67% was written with monthly premiums and 33% with single premiums,” said Radian. “This compares to a mix of 64% monthly premiums and 36% single premiums in the first quarter of 2012, and 57% monthly premiums and 43% single premiums in the fourth quarter of 2011.”
