Seventy percent more loans were insured last year at MGIC Guaranty Insurance Corp. than in 2011. The mortgage insurer has also improved its delinquency rate by more than 200 basis points over the past 12 months.
Home lenders used MGIC to insure $2.2 billion in mortgages during December, according to monthly operating data released Tuesday.
There wasn’t any change from the level of business generated in November, but activity has soared from December 2011, when $1.4 billion in new policies were written.
During all of 2012, the Milwaukee-based company issued policies on $24.2 billion in mortgages, lunging from 2011 — when business amounted to just $14.2 billion.
MGIC reported that its ending delinquent inventory fell to 139,845 loans from the previous month’s 143,153. Delinquency has improved significantly from December 2011, when the inventory stood at 175,639.
Using an estimated 1,008,058 loans with insurance in force from MGIC as of Dec. 31, 2012, delinquency was an estimated 13.87 percent.
Delinquency improved from a month earlier, when the estimated rate was 14.12 percent, and the same month in 2011, which MGIC previously reported at a 16.11 percent rate of delinquency.
