The inventory of delinquent policies fell to the lowest level in years at MGIC Guaranty Insurance Corp. New business, meanwhile, slowed.
New policies written on residential loans totaled $2.2 billion during November, monthly operating data indicated.
Business fell from October, when $2.4 billion in home loans were insured.
A year earlier, activity totaled $2.2 billion.
From Jan. 1 through Nov. 30, volume at the Milwaukee-based company amounted to $27.7 billion.
MGIC’s delinquent inventory ended last month at 104,637 policies, falling from 109,629 at the end of October.
At the same point in 2012, the delinquent inventory was 143,153.
It was the fewest number of delinquent policies since at least March 2010.
Using an estimated 965,226 policies in force, the estimated delinquency rate at the mortgage insurance company was 10.84 percent as of Nov. 30.
The estimated past-due rate fell from a month earlier, when it was 11.33 percent. The rate improved even more significantly compared to a year earlier, when it stood at an estimated 14.13 percent.
The estimated rate has been lower each month since July 2012, when it was 14.75 percent.
