The August results are in for Radian Guaranty Inc., and the numbers are good. Sales increased 11 percent and have risen each of the past five months, while delinquency has fallen every month this year.
New policies written at Radian during last month climbed to $3.75 billion. The mortgage insurance company’s business has increased every month since March, when $2.43 billion in volume was reported.
In July, $3.37 billion in primary new insurance was written, while activity amounted to just $1.3 billion in August 2011.
Year-to-date Aug. 31, Radian has generated $22.86 billion in new business.
The number of insured mortgages that were delinquent improved to 94,823 in August from the previous month’s 97,012 and also retreated from 109,990 in the same month during the previous year.
Using an estimated 743,434 in total policies outstanding as of the end of last month, the delinquency rate fell to an estimated 12.76 percent from an estimated 13.09 percent in July.
The Philadelphia-based company has reduced its delinquency rate each month since December 2011, when the past-due policies stood at 15.20 percent.
The delinquency rate was around 15.06 percent in August 2011.