Although quarterly business slowed from an all-time high at Radian Group Inc., annual activity ascended to a record as delinquency fell.
The Philadelphia-based mortgage insurance company
earned $98 million in pretax income during the three months ended Dec. 31, 2016.
Those details, in addition to other operational and financial results, were presented in Radian’s fourth-quarter 2016 earnings report.
Income
declined from $127 million the prior quarter and $105 million a year prior.
Radian said it wrote $13.882 billion in new insurance, declining from a record $15.656 billion in the third quarter. But but business improved from $9.099 billion in the final quarter of 2015.
Refinance share during the most-recent three-month period worked out to 27 percent, widening from 22 percent in the third quarter.
For all of last year, mortgage insurance written amounted to $50.530 billion, an “all-time company record for flow M.I.” Radian wrote $41.411 billion in new insurance during 2015.
Primary insurance in force finished 2016 at 902,878 loans for $183.450 billion, expanding from 896,927 loans for $181.165 billion as of Sept. 30 and 881,110 mortgages for $175.584 billion as of year-end 2015.
Delinquency dipped to 3.22 percent as of the most-recent date from 3.29 percent at the end of the third quarter
and 4.01 percent at the end of 2015.
