Even though new quarterly business fell at Mortgage Guaranty Insurance Corp., quarterly earnings at its parent improved.
In its fourth-quarter 2016 earnings report, parent MGIC Investment
Corp. reported that it earned $162 million before taxes.
Income soared from just $84 million in the prior period and was also up from $109 million in the same period last year.
New insurance written
came to $12.8 billion during the last three months of 2016. Business fell from $14.2 billion in the third quarter but improved from $9.8 billion in the fourth-quarter 2015.
Full-year 2016 insurance written increased to $47.9 billion
from $43.0 billion during all of 2015.
There was $182.0 billion insurance in force as of year-end 2016. The book of business
expanded from $180.1 billion as of Sept. 30, 2016, and $174.5 billion as of Dec. 31, 2015.
Delinquency was cut to 4.05 percent as of Dec. 31, 2016, from
5.16 percent three months earlier and 5.11 percent one year earlier.