New business was better, earnings swung to a healthy profit and delinquency declined at Radian Guaranty Inc. In addition, an acquisition is in the works.
The mortgage insurance company wrote $2.84 in new policies during April, according to first-quarter earnings data.
Business improved compared to the previous month, when $2.47 billion in mortgage insurance policies were written.
But activity has slowed considerably from the same month last year, when volume amounted to $4.12 billion.
From Jan. 1 through April 30, new business at the Philadelphia-based company amounted to $9.61 billion.
Radian reported $162.368 billion policies in force as of March 31.
Moving on to loan performance, Radian said its delinquent policy count fell to 50,994 in April — the smallest number since at least 2009.
Delinquent policies declined from 53,119 in March and 81,577 at the same point last year.
Using an estimated 839,986 in outstanding polices as of April 30, the estimated delinquency rate was 6.07 percent last month, down from 6.33 percent one month earlier.
As of April 30, 2013, the estimated delinquency rate was 10.37 percent.
Pre-tax income swung to a $203 million profit in the first quarter of 2014 from a $202 million loss in the same three months last year.
Radian noted in its earnings report that it has agreed to acquire outsource solutions provider Clayton Holdings for $305 million. The deal to acquire the 700-employee firm is expected to be completed this summer.
