It’s been 18 months since new business has been this bad at Radian Guaranty Inc. Delinquency, however, maintained an improving trend.
The Philadelphia-based company reported that it wrote $3.00 billion in new policies during November.
Activity tumbled from $3.50 billion a month earlier and $3.84 billion a year earlier.
The last time new business was this slow was in May 2012, when volume amounted to $2.73 billion.
From Jan 1 through Nov. 30, Radian insured $44.64 billion in home loans.
The mortgage insurance company reported that 62,556 policies were delinquent as of Nov. 30.
Past-due policies dropped from 63,874 in October and 92,770 in November 2012.
Using an estimate of 849,804 outstanding policies, the delinquency rate was 7.36 percent last month.
Delinquency improved from an estimated 7.59 percent as of Oct. 31 and an estimated 12.12 percent as of Nov. 30, 2012.
