The past-due share of Radian Guaranty Inc.’s book of business has fallen for 14 consecutive months. New business retreated last month but was still higher on a year-over-year basis.
Radian reported that it insured $3.29 billion in mortgages during February. Business slowed from a month earlier, when the Philadelphia-based firm generated $3.99 billion in news business.
However, volume improved from $2.05 billion in new business written during the same month last year.
During the first two months of 2013, the mortgage insurance company wrote $7.28 billion in home loan policies.
An estimate of total outstanding policies based on reported numbers for Dec. 31 and Sept. 30 of last year puts last month’s outstanding policies at 782,189, off from an estimated 776,594 at the end of January and an estimated 730,770 in February 2012.
The number of delinquent policies was 89,714 as of Feb. 28, easing a month earlier when 91,089 loans insured by Radian were past due. At the same point last year, 107,230 insured mortgages were delinquent.
Using estimated policies in force, the delinquency rate was 11.47 percent last month, falling from 11.73 percent in as of Jan. 31.
The estimated delinquency rate was 14.67 percent as of Feb. 29, 2012.
Radian’s delinquency rate has improved each month since December 2011, when delinquency was 15.19 percent.
