Defaults were down and new business was up last month at Radian Insurance Inc. All in all, it was a good month for the mortgage insurance company.
Primary new insurance policies written were $2.55 billion during April, the Philadelphia-based firm reported.
New business climbed from $2.43 billion in March. During the same month in 2011, a mere $0.7 billion in new insurance was endorsed.
Radian said that the number of delinquent mortgage insurance policies was 101,566, down from 103,027 a month earlier. A year earlier, 115,020 policies were delinquent.
Using an estimate of outstanding policies for April, the delinquency rate at the mortgage insurer was 13.875 percent in April.
The rate tumbled from 14.088 percent the prior month. It was also much better than an estimated 15.522 percent in April 2011.
