Sales of new mortgage insurance policies slowed last month at MGIC Guaranty Insurance Corp. But the mortgage insurer improved on its level of delinquency.
The Milwaukee-based company wrote $2.2 billion in primary new insurance during November, according to monthly operating statistics released Monday.
New business slowed from October, when MGIC insured $2.6 billion. But activity grew from November 2011, when the mortgage insurance company wrote policies on $1.4 billion in home loans.
November’s activity brought year-to-date volume to $22.0 billion.
MGIC reported that its ending primary delinquent inventory was 143,153 past-due loans, fewer than the 146,282 insured loans with late payments in October.
The year-earlier delinquent inventory was 175,691 mortgages.
Using an estimated 1,014,105 policies in force as of Nov. 30, the estimated delinquency rate was14.12 percent.
The rate improved from a revised estimate of 14.34 percent a month earlier and a revised estimated rate of 15.87 percent in the same month last year.
