There was no change last month in the volume of home loans insured by MGIC Guaranty Insurance Corp. Delinquency, however, continued to improve.
New business during April totaled $2.4 billion. There was no difference from March in the volume of new policies written.
But MGIC did insure more loans than in April 2012, when policies were issued on $1.7 billion in mortgages.
Year-to-date April 30 volume totals $8.9 billion.
Mortgage Daily estimates that MGIC had approximately 980,715 policies in force for an estimated $159 billion as of April 30.
The inventory of delinquent policies closed at 122,055 units, dropping from the previous month’s 126,610 delinquent policies. One year prior, 156,698 MGIC-insured mortgages were classified as delinquent.
Using estimated outstandings, MGIC’s delinquency rate fell to an estimated 12.45 percent from 12.83 percent as of March 31.
A year earlier, the estimated rate of delinquency was 14.82 percent.
Delinquency has declined each month since July 2012, when the rate was 14.75 percent.
