New business slowed last month at Radian Guaranty Inc. but remained elevated compared to the same month in 2012. Loan performance was better.
The mortgage insurance company reported that it wrote new policies on $3.83 billion in home loans during September.
That wasn’t as good as in August, when $4.67 billion in mortgages were insured.
Business did pick up, however, from September 2012, when $3.54 billion in primary new insurance was written.
So far during 2013, Radian has insured $38.14 billion in residential loans.
The Philadelphia-based firm trimmed its inventory of delinquent policies to 65,239 from 65,427 in August.
The primary delinquent inventory has been reduced from one year earlier, when it stood at 94,831.
Using an estimate of 830,070 total outstanding policies as of Sept. 30 at Radian, September’s estimated delinquency rate was reduced to 7.86 percent from an estimated 7.96 percent one month earlier.
Delinquency has plunged since September 2012, when the rate was 12.57 percent.
