The rate of delinquency has been better each month this year at Radian Insurance Inc., while new business improved for the second consecutive month.
The Philadelphia-based company wrote $2.73 billion in new policies last month, according to monthly operational data.
Business grew from April, when $2.55 billion in policies were issued.
New activity skyrocketed from only $0.70 billion in May 2011.
During the first five months of 2012, Radian wrote $12.66 billion in new business.
The mortgage insurer reported 99,694 delinquent policies in May, down from 101,566 a month earlier and 114,193 a year earlier.
Using an estimated 732,500 in total policies outstanding, the delinquency rate worked out to approximately 13.61 percent, lower than April’s estimated 13.88 percent.
The last time Radian saw deterioration in delinquency was December, when the rate was a revised 15.19 percent.
The rate in May 2011 was an estimated 15.50 percent.
