New business written by MGIC Guaranty Insurance Corp. is buzzing along at the fastest clip in at least three years, and delinquent policies are at the lowest level in at least three years.
Production held up during June at MGIC, with $2.8 billion in new mortgage insurance policies written — the same as the prior month.
Monthly production is running at its strongest pace since at least 2009, based on historical data previously reported by MGIC.
The Milwaukee-based mortgage insurance company lifted new activity from a year earlier, when $2.2 billion in home loans were insured.
During the first half of this year, MGIC’s volume totaled $14.5 billion.
MGIC finished last month with 117,105 delinquent policies — the fewest since at least May 2010 based on the oldest data maintained by Mortgage Daily.
The primary delinquent inventory was 119,091 at the close of May, while it was far greater at the same point last year — when it stood at 153,990.
Using an estimated insurance-in-force portfolio of 967,900 policies as of the end of last month, the delinquency rate was an estimated 12.10 percent.
A month earlier, estimated delinquency was 12.22 percent, while the reported rate stood at 14.75 percent as of June 30, 2012.
