Following a five-month winning streak, business slowed last month at Radian Guaranty Inc. While the number of delinquent mortgage insurance policies inched higher, the delinquency rate was lower.
The Philadelphia-based company reported that it insured $3.54 billion in mortgages during September.
Volume was off from August, when $3.75 billion in new policies were written.
But activity was much stronger than in September 2011, when $1.81 billion in home loans were insured.
Last month’s business brought the year-to-date total to $26.40 billion.
Radian said that 94,831 of its outstanding policies were delinquent last month, creeping up from 94,823 in August. During the same month last year, 110,740 policies were past-due.
Using an estimate of 745,854 outstanding policies, Radian’s delinquency rate was around 12.71 percent in September.
Delinquency was estimated at 12.76 percent the prior month, while the rate was reported at 15.20 percent during the same month in the prior year.
The estimated delinquency rate has fallen each month this year.
