Although the monthly volume of new business weakened at MGIC Guaranty Insurance Corp., delinquency continued falling to a multi-year low.
For the month of August,
primary new insurance written came in at $4.0 billion.
Business slowed from the previous month, when $4.5 billion in new policies were written.
But activity accelerated compared to the same month last year, when MGIC wrote $3.5 billion in mortgage insurance.
The details were spelled out in a monthly operational report released Wednesday.
During the eight months ended Aug. 31, 2015, new business amounted to $29.3 billion.
The Milwaukee-based company reported an ending primary delinquent inventory of 64,805 policies as of last month.
Historical
data back to 2009, the oldest maintained by Mortgage Daily, indicate that it was the fewest delinquent loans on record.
MGIC spokeswoman
Katie Monfre declined to provide details about the last time the delinquent inventory was this low.
Past-due loans totaled 66,121 in July and 83,748 in August 2014.
Using an estimated 984,716 policies in force as of Aug. 31, 2015, the delinquency rate was
approximately 6.58 percent.
The estimated delinquency
rate was lower than 6.73 percent a month earlier and 8.75 percent a year earlier.
