For the second month in a row, new business was down at MGIC Guaranty Insurance Corp. The mortgage insurer, however, maintained its steady decline in delinquency.
Primary new insurance written by MGIC worked out to $3.9 billion during the month of September, according to monthly operational data released Thursday.
Activity was diminished compared to the previous month, when $4.0 billion in new business was reported.
It was the second consecutive monthly decline for the Milwaukee-based mortgage insurance company.
But primary new insurance written was stronger than in the same month last year, when new business came in at $3.3 billion.
During the first nine months of 2015, MGIC wrote $33.2 billion in new policies.
Last month’s ending primary delinquent inventory was 64,642 loans. That was the fewest on record based on the oldest data maintained by Mortgage Daily back to 2009.
MGIC spokeswoman Katie Monfre has previously declined to provide delinquency details prior to 2009 or comment on when the delinquent inventory was last this low.
The delinquent inventory was reported at 64,805 in August 2015 and 83,154 in September 2014.
Based on Mortgage Daily’s estimate of 987,473 policies in force as of Sept. 30, 2015, the estimated delinquency rate was 6.55 percent.
Delinquency was down from an estimated 6.58 percent a month earlier and 8.65 percent previously reported for a year earlier.
