MGIC Guaranty Insurance Corp. delivered solid performance last year, with new mortgage insurance business moving higher and loan delinquency declining.
During the final month of 2014, MGIC wrote $3.3 billion in primary new insurance, according to operational data.
Activity rose from November, when $2.9 billion in insurance was written.
Business at the Milwaukee-based firm also strengthened from December 2013, when volume was $2.1 billion.
From Jan. 1, 2014, through
Dec. 31, 2014, primary insurance written amounted to $33.4 billion, increasing from $29.8 billion in 2013.
MGIC said that its primary delinquent inventory ended December at 79,901 loans — the lowest level of distressed mortgages on record since at least 2009 based on the oldest available data.
The delinquent inventory diminished from 80,125 a month earlier.
A year earlier, the mortgage insurance company had a delinquent inventory of 103,328 loans.
Using an estimated insurance in force of 970,967 loans, the delinquency rate closed out last month at 8.23 percent.
Delinquency dropped an
estimated 5 basis points from Nov. 30, 2014, and plunged 253 BPS from the end of 2013.
