Mortgage insurers wrote fewer policies last month, while the balance of outstanding policies retreated and delinquency edged higher.
Members of the Mortgage Insurance Companies of America wrote 17,416 policies for $3.7 billion during April, data released Tuesday from the trade group indicated.
Volume the prior month was better at 18,098 policies for $4.4 billion, while 23,608 policies were issued for $4.8 billion in April 2010.
MICA members have written 72,489 policies for $18.9 billion this year through April 30.
New M.I. applications inched lower to 20,733 from 21,602 in March — indicating a possible decline in May business.
Primary insurance in force continued to contract, falling to $615.7 billion from $621.0 billion a month earlier. The balance was $811.8 billion a year earlier.
Primary insurance defaults edged up to 40,875 from March’s 39,557 but was lower than 60,656 in April 2010.
At the same time, primary insurance cures declined to 43,362 from 56,934 and were 66,170 at the same point last year.
