For five straight months, new business has improved at Radian Guaranty Inc. — with last month’s activity reaching the highest level in nearly a year. Delinquency also continued to improve.
New mortgage insurance written during July totaled $3.9 billion, according to supplementary data included in Radian’s second-quarter earnings report.
New business at the Philadelphia-based mortgage insurance company was at its highest level since August 2013, when volume came in at $4.67 billion.
Activity has increased every month since February of this year, a month that saw $1.90 billion in business.
In June 2014, there was $3.53 billion in new insurance written, while the number was $5.29 billion in July 2013.
During the first seven months of this year, volume amounted to $20.01 billion.
As of July 31, there were 47,870 delinquent policies, diminishing from 48,904 as of the end of June.
The delinquent policy count has plummeted from the same point in 2013, when the figure was 77,142. The inventory has not been this low since at least 2009.
Using an estimated 847,445 in total outstanding policies, the delinquency rate was an estimated 5.65 percent, improving from the end of June when the it was 5.78 percent. Delinquency sank from July 2013’s estimated rate of 9.46 percent.
Delinquency has not been this low since 2007 based on monthly data back to early 2010 and quarterly data prior to that.
Radian reported $164.989 billion policies in force as of mid-year 2014.
