Monthly new business remained relatively strong at MGIC Guaranty Insurance Corp., while insured loan performance continued to improve.
The Milwaukee-based company reported in a monthly operational summary that it wrote $3.3 billion in new policies during October.
Business didn’t vary from the previous month, putting year-to-date volume at $27.2 billion.
Insurance written improved from October of last year, when MGIC generated $2.4 billion in new business.
The mortgage insurance company said that it finished last month with 82,369 in delinquent inventory.
That was the fewest loans in the distressed inventory since at least 2009.
The total subsided from 83,154 delinquent loans at the end of September and tumbled from 109,629 as of the same point last year.
Using an estimated 964,222 outstanding policies, the delinquency rate was 8.54 percent, 11 basis points better than at the end of September and 280 BPS less than as of Oct. 31, 2013.
