Radian Guaranty Inc.’s new business was the slowest it’s been in seven months. Insured loan performance, however, was the best it’s been in at least five years.
The Philadelphia-based firm reported in a monthly operational report that it wrote $2.87 billion in primary new insurance during November.
It was the lowest level of monthly business since April, when $2.84 billion in new policies were written.
New insurance written the previous month came in at $3.75 billion, while volume was $3.00 billion as of a year earlier.
From Jan. 1 through Nov. 30, the mortgage insurance company wrote $34.01 billion in new insurance.
Radian said it closed out last month with 45,908 delinquent policies — the fewest since at least 2009 based on the oldest available data.
Delinquent policies were 46.242 as of the end of October.
As of Nov. 30, 2013, there were 62,556 delinquent policies.
Mortgage Daily estimates that Radian had roughly 872,271 total outstanding policies as of Nov. 30, 2014.
That put the estimated delinquency rate at 5.26 percent — lower than an estimated 5.33 percent the prior month and 7.47 percent in the same month last year.
