For the third month in a row, new business was better at Radian Guaranty Inc. Loan performance on Radian-insured mortgages showed no signs of deteriorating.
The mortgage insurance company reported that it wrote $2.97 billion in primary new insurance during May.
Business picked up from a month earlier, when volume was $2.84 billion.
Insurance written has increased every month since February, when $1.90 billion in loans were insured, while business hasn’t been this strong since November 2013, when the total was $3.0 billion..
From Jan. 1 through May 31, Radian wrote $12.58 billion in new business.
Radian previously reported $4.56 billion in new business written during May 2013.
The number of delinquent loans that are insured by the Philadelphia-based company fell to 50,212 last month from 50,994 as of the end of April. The number was 79,344 a year earlier.
The delinquent inventory was at its lowest level since at least 2009 based on the oldest available data.
Mortgage Daily estimates that Radian had 840,171 outstanding policies as of May 31, putting delinquency at 5.98 percent.
In April, the estimated delinquency rate was 6.07 percent, while it stood at an estimated 10.03 percent as of May 31, 2013.
