New mortgage insurance business increased, and the level of delinquency declined during July at MGIC Guaranty Insurance Corp.
Last month’s new business at the mortgage insurance company came in at $3.2 billion, according to monthly operational data.
The Milwaukee-based firm insured 14 percent more in home loans than in June, when volume amounted to $2.8 billion.
In July 2012, MGIC wrote $2.4 billion in new policies.
During the seven months ended July 31, mortgages insured by MGIC totaled $17.7 billion.
MGIC reported that 115,755 policies were in its delinquent inventory as of the end of last month, falling from 117,105 at the end of June.
As of June 30, 2012, there were 153,137 mortgages in its primary delinquent inventory.
Using an estimated 972,376 policies in force as of July 31, the delinquency rate was an estimated 11.90 percent.
MGIC reported a 12.00 percent delinquency rate in its second-quarter earnings.
Performance has substantially improved from a year earlier, when the delinquency rate was an estimated 14.75 percent.
MGIC last disclosed the dollar amount of insurance in force at $158.6 billion as of the end of the second quarter.
