Insured loan volume at Radian Guaranty Inc. slowed last month but still finished at the second-highest level this year. An early indication of residential delinquency for the mortgage industry — the rate of past-due mortgages on Radian’s books — was down 300 basis points from a year earlier.
The Philadelphia-based mortgage insurance company reported that it insured $3.84 billion in mortgages during November. Business was down from a month earlier, when policies were issued on $4.01 billion in loans.
Radian insured $2.18 billion in November 2011.
From Jan. 1 until Nov. 30, premiums were earned on $34.25 billion in newly insured mortgages.
The primary delinquent inventory finished last month at 92,770 policies, down from 93,930 at the end of October. The latest number reflected 5,798 new delinquencies, 4,694 cures, and 371 rescissions and denials, as well as 1,893 classified as “those charged to a deductible or captive.”
Using an estimated total outstanding book of 764,622 mortgages, the delinquency rate was around 12.13 percent in November, improving from the prior month when an estimated 12.37 percent of Radian’s loans were delinquent.
The past-due rate has fallen significantly from a year earlier, when estimated delinquency was a revised 15.13 percent.
