Radian Group Inc. expanded its book of business as it brought down the level of delinquency. The company moved out of the red.
Pretax income at the Philadelphia-based mortgage insurance company was $103 million, according to its third-quarter earnings report.
Although income diminished from $127 million in the same-three months last year, earnings swung from a $35 million second-quarter 2017 loss.
For the three months ended Sept. 30, 2017, there was $15.125 billion in new insurance written.
Business picked up from $14.342 billion written during the second quarter. But insurance written slipped from $15.656 billion in the third quarter of last year.
From Jan. 1, 2017, through Sept. 30, a total of
$39.522 billion in new insurance was written.
Third-quarter 2017 refinance share was 9 percent, the same as in the previous period.
Primary insurance in force concluded the latest three-month period at $196.541 billion, expanding from $191.637 billion as of mid-2017 and $181.165 billion as of the same date last year.
The number of insured loans
grew to 942,808 from 928,879 and was way up from 896,927 as of Sept. 30, 2016.
Primary mortgage insurance delinquency finished last month at 2.53 percent, down 3 basis points from three months earlier and sinking 76 BPS from a year earlier.
