Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., today released data for primary mortgage insurance delinquencies for May 2012. These details may also be found on Radian’s website at http://www.radian.biz/page?name=NewsReleases.
The information below regarding new delinquencies and cures is reported to Radian from loan servicers. The accuracy of these reports may be affected by several factors, including the date on which the report is generated and by the timing of servicing transfers.
|Primary New Insurance Written (NIW) ($ in billions)||$2.73|
|Beginning Primary Delinquent Inventory (# of loans)||101,566|
|Plus: New Delinquencies||5,850|
|Less: Paids (including those charged to a deductible or captive)||(1,810)|
|Less: Rescissions and Denials||(1,491)|
|Ending Primary Delinquent Inventory (# of loans)||99,694|
The product mix of Radian’s NIW has continued to shift to an increased level of monthly premium business. Of the $5.3 billion in new business written in the first two months of the second quarter, 67 percent was written with monthly premiums and 33 percent with single premiums. This compares to a mix of 64 percent monthly premiums and 36 percent single premiums in the first quarter of 2012, and 57 percent monthly premiums and 43 percent single premiums in the fourth quarter of 2011.
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