Although quarterly business was down at United Guaranty, annual volume improved, outstandings expanded and delinquency declined.
During the final three months of last year, $10.859 billion in total new insurance was written, according to fourth-quarter earnings data reported by parent American International Group Inc.
Business at the Greensboro, N.C.-based company tumbled from $14.437 billion during the third quarter.
Activity also slowed from the fourth quarter of 2012, when $11.629 billion in home loans were insured.
For all of 2013, United Guaranty wrote $49.933 billion in new policies, more than the $37.509 billion written in 2012.
The mortgage insurer’s first lien insurance in force was 799,573 policies for $147.612 billion as of year-end 2013.
Outstanding policies grew from 780,267 for $141.962 billion in force as of three months earlier and 710,230 policies for $121.505 billion a year earlier.
The primary delinquency ratio improved to 5.9 percent as of the end of last year from 6.4 percent at the end of the third quarter.
United Guaranty has significantly improved on its delinquency rate as of the end of 2012, when it stood at 8.8 percent.
“Mortgage guaranty” pre-tax operating income rose to $48 million from $43 million in the three months ended Sept. 30 and swung from a $45 million loss during the final three months of 2012.
Full-year income from mortgage guaranty soared to $205 million from just $9 million in 2012.
