Radian Guaranty Inc. reported a solid month-over-month gain in new business, while there was an equally impressive improvement in delinquency.
The Philadelphia-based firm said Tuesday that it wrote $3.53 billion in primary new mortgage insurance policies during June.
Activity jumped from the previous month, when $2.97 billion in new policies were generated by the mortgage insurer.
However, Radian’s business has tumbled compared to the same month last year, when volume totaled $4.76 billion.
So far this year, the mortgage insurance company has written $16.11 billion in primary new insurance.
Radian reported that it finished last month with a primary delinquent inventory of 48,904 loans — the lowest level since at least 2009 based on the oldest available data.
The inventory fell from 50,212 delinquent loans in May and plunged from 78,257 past-due mortgages in June 2013.
Using an estimated 840,355 in total outstanding policies, June’s delinquency rate was 5.82 percent, falling from an estimated 5.98 percent a month earlier and 9.70 percent a year earlier.
On July 1, Radian reported that it completed its previously announced acquisition of Clayton Holdings LLC for $305 million.
