MGIC Guaranty Insurance Corp. turned in its second consecutive month of improvement for new business. Delinquency, meanwhile, is at the lowest level in years.
The Milwaukee-based mortgage insurer reported on Thursday that it wrote $2.3 billion in primary insurance during April.
Business picked up from the previous month, when MGIC raised its level of activity for the first time in eight months to $2.0 billion.
The volume of mortgages insured, however, came in just shy of the $2.4 billion previously reported for April 2013.
The latest activity brought year-to-date 2014 volume to $7.5 billion.
In its first-quarter 2014 earnings report, MGIC said that its insurance in force finished March at $157.9 billion.
The inventory of delinquent loans ended April at 87,987 mortgages, falling from the previous month’s 91,842.
The delinquent inventory was 122,055 as of April 30, 2013.
Using an estimated insurance in force of 945,791 policies, the estimated delinquency rate was 9.30 percent last month.
That was the lowest rate since at least 2009 based on the oldest available data.
Delinquency was 9.67 percent in March and an estimated 12.45 percent in April 2013.
