Although new business has worsened for five consecutive months at Radian Guaranty Inc., full-year activity was up by more than a quarter. In addition, the delinquency rate has improved for 24 straight months.
The mortgage insurance company reported Wednesday that it wrote $2.85 billion in primary new insurance during the final month of 2013.
Activity slowed from November, when new business was reported at $3.00 billion.
Radian’s business has been down each month since July 2013, a month that saw $5.29 billion in business volume.
in December 2012, the mortgage insurer wrote $3.85 billion in new insurance.
During all of last year, Radian insured $47.49 billion in home loans, rising from 2012 when the total amounted to $37.20 billion.
Radian said that its primary delinquent inventory fell to 60,909 in the latest report from 62,556 at the end of November. At the end of 2012, there were 93,169 delinquent policies.
Using an estimate of 858,471 in outstanding policies, the delinquency rate was 7.10 percent as of Dec. 31, 2013.
The delinquency rate fell from an estimated 7.36 percent a month earlier and has moved lower each month since December 2011, when the rate was 15.19 percent.
Radian’s past-due rate was 12.08 percent as of Dec. 31, 2012.
