New business increased for the fourth consecutive month at Radian Guaranty Inc. In addition, the number of delinquent policies declined for the seventh month in a row, and the delinquency rate improved again
The mortgage insurance company reported that $3.37 billion in primary new insurance was written during July. A month earlier, new volume was $3.08 billion.
Business has gained each month at the Philadelphia-based company since March, when $2.43 billion in new policies were written.
In July 2011, Radian wrote $1.0 billion in new insurance.
From Jan. 1 through July 31, business totaled $19.11 billion.
The number of insured loans that were delinquent fell to 97,012 last month from 98,450 in July. In June 2011, delinquent policies numbered 110,607.
Using an estimate of 741,014 total loans that were insured by Radian as of July 31, the delinquency rate slipped to an estimated 13.09 percent from 13.33 percent in June. In July 2011, estimated delinquency was 15.09 percent.
