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Robust Month at Radian

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New business climbed last month at Radian Guaranty Inc., while the rate of delinquency has retreated each of the past 15 months.

The Philadelphia-based firm reported that it insured $3.63 billion in home loans during March.

Business picked up from February, when primary new insurance written totaled $3.29 billion.

New activity was also better than the same month last year, when Radian wrote $2.43 billion.

During the first quarter of this year, $10.91 billion in mortgages were insured.

Radian said 85,109 policies were delinquent, falling from 87,714 past-due policies in February. The decline was even greater compared to March 2012, when 103,027 policies were delinquent.

Using an estimate of 787,785 policies outstanding, the estimated delinquency rate was 10.80 percent last month.

Estimated delinquency was 11.47 percent as of February and 14.09 percent as of March 2012.

The delinquency rate has been down every month since December 2011, when it stood at 15.19 percent.

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