A year-over-year improvement in earnings, new insurance written and delinquency was reported for Genworth Mortgage Insurance Corp.
During the three months ended June 30, parent Genworth Financial Inc. earned $351 million from continuing operations before income taxes.
Those details, along with other operational and financial data, were presented in the Richmond, Virginia-based firm’s second-quarter earnings report.
Earnings more than doubled compared to the $150 million earned in the first quarter and also improved versus $245 million a year previous.
The U.S. mortgage insurance segment earned $95 million, no different than in the first quarter but better than $76 million in the second-quarter 2015.
Genworth Mortgage Insurance wrote $11.400 billion in new insurance, much improved from $7.400 billion three months earlier and $8.200 billion twelve months earlier.
Year-to-date June 30, 2016, new insurance written amounted to $18.800 billion.
Refinance share slipped to 18 percent from 19 percent in the first quarter.
June 2016 closed out with primary insurance in force on 668,951 loans for
$128.400 billion.
The total grew from 655,300 loans for $124.100 billion at the end of March and 636,640 loans for $117.100 billion at the same point last year.
The delinquency rate was cut to 3.86 percent from 4.21 percent as of March 31 and 5.21 percent as of June 30, 2015.
