Monthly performance metrics managed to strengthen in each category at Radian Guaranty Inc. New business has nearly doubled over the past year, the mortgage insurer’s book of business continues to expand, and the number of delinquent policies was reduced.
The Philadelphia-based firm insured $4.01 billion in mortgages during October, according to monthly data released Wednesday.
Business improved from September, when $3.54 billion in new policies were written. The mortgage insurance company nearly doubled its volume from October 2011, when $2.07 billion in new policies were written.
So far this year, new business at Radian totals $30.41 billion.
Based on 754,211 outstanding policies as of Sept. 30 and factoring in the growth since June 30, when 738,595 policies were in force, the estimated outstanding as of Oct. 31 is 759,416 policies.
Also as of the end of last month, 93,930 policies were delinquent, fewer than the 94,831 past-due policies as of the end of September and the 110,614 delinquent policies as of Oct. 31, 2011.
Using the estimated policies in force, the delinquency rate was around 12.37 percent in October, falling from 12.57 percent in September.
The rate of policies with late payments has improved significantly from the estimated 15.18 percent rate as of a year earlier.