Mortgage Daily

Published On: March 31, 2009
M.I. Business Higher$8.5 billion in policies written during February

March 31, 2009

By MortgageDaily.com staff

Mortgage insurers wrote more business last month as defaults retreated from January’s record level.During February, 56,216 policies were written for $8.5 billion, the Mortgage Insurance Companies of America reported today.

Activity increased from 59,569 mortgage insurance policies for $7.1 billion in January but was less than half of the 139,077 policies issued for $19.2 billion in February 2008.

The trade group’s figures were derived from data submitted by AIG United Guaranty, Genworth Mortgage Insurance Corp., Mortgage Guaranty Insurance Corp., PMI Mortgage Insurance Co., Radian Guaranty and Republic Mortgage Insurance Co.

So far this year, 115,785 policies have been written for $15.6 billion.

February activity included just six bulk policies for less than $0.1 billion.

New mortgage insurance applications received last month totaled 73,109, down from 76,130 in January.

MICA said primary insurance in force was $944.9 billion in February, down from $949.3 billion in January but higher than $839.6 billion 12 months earlier.

Primary insurance defaults declined to 89,722 from January’s record 106,484. In February 2008, there were just 60,911 defaults.

Primary insurance cures reach 67,767 during February, jumping from 51,093 the previous month and 47,933 the previous year.

next story

back to current headlines
 

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Days with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN