Less in mortgage insurance volume was written at MGIC Guaranty Insurance Corp. last month, but the company continued to see improved performance on its book of business.
The mortgage insurance company reported that it wrote $3.5 billion in new insurance during August.
MGIC’s business wasn’t quite as good as it was the previous month, when $3.6 billion in insurance was written.
But MGIC lifted activity from $2.9 billion in August 2013.
From Jan. 1 through Aug. 31, the Milwaukee-based firm wrote $20.6 billion in primary new insurance.
MGIC said that its primary delinquency inventory finished last month at 83,748, retreating from 84,946 in July.
In August 2013, the mortgage insurer’s delinquent inventory was 113,328 loans.
Using Mortgage Daily’s estimate of 951,629 policies in force as of Sept. 30, MGIC’s delinquency rate was an estimated 8.80 percent, dropping from an estimated 8.93 percent a month earlier and 11.66 percent a year earlier.
Delinquency stood at its lowest level since at least 2009.
