In addition to reducing its delinquent inventory each month for nearly three years, MGIC Guaranty Insurance Corp. has managed to increase new business for four consecutive months.
In a monthly operational report, the mortgage insurance company said that it wrote $3.2 billion in primary new insurance during June.
Activity was bolstered from the previous month, when business came in at $2.8 billion. It was additionally better than the same month last year, when policies written also came in at $2.8 billion.
In fact, primary new insurance written has moved higher every month since February of this year.
During the entire first half of 2014, the Milwaukee-based company wrote $13.5 billion in new insurance.
MGIC reported that its primary delinquent inventory finished last month at 85,416 loans, diminishing from 86,415 at the end of May.
The delinquent inventory was 117,105 as of June 30, 2013.
The mortgage insurer has reduced its delinquent inventory each month since July 2011, when it was at 185,093.
In addition, the delinquent inventory has not been this low at any point since 2009 — the oldest available performance data.
Using an estimate of 938,605 policies in force as of June 30, 2014, the estimated delinquency rate was 9.10 percent, improving from an estimated 9.17 percent the prior month.
MGIC previously reported its June 2013 delinquency rate at 12.00 percent.
