Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., today released data for primary mortgage insurance delinquencies for August 2013. These details may also be found on Radian’s website at http://www.radian.biz/page?name=NewsReleases. Previously released historical data is also available on the website at http://www.radian.biz/page?name=FinancialReportsMortgageInsurance.
The information below regarding new delinquencies and cures is reported to Radian from loan servicers. Default reporting, particularly on a monthly basis, may be affected by several factors, including the date on which the report is generated and transmitted to Radian, updated information submitted by servicers and by the timing of servicing transfers.
|Primary New Insurance Written ($ in billions)||$4.67|
|Beginning Primary Delinquent Inventory (# of loans)||77,142|
|Less: Freddie Mac Agreement Loans (1)||(9,756)|
|Plus: New Delinquencies||4,457|
|Less: Paids (including those charged to a deductible or captive)||(1,635)|
|Plus: Rescissions and Denials (2)||128|
|Ending Primary Delinquent Inventory (# of loans)||65,427|
(1) Represents loans related to the August 29, 2013, Master Transaction Agreement with Freddie Mac that were delinquent as of July 31, 2013, and for which Radian Guaranty no longer has claim exposure. As a result, activity with regard to new delinquencies, cures, paids and rescissions and denials excludes any impact from loans subject to the Agreement. For additional details on the Agreement, refer to the press release and 8-K filed on August 29, 2013.
(2) Rescissions and Denials are net of actual reinstatements for the period. For additional details on reinstatement trends, refer to Slide 21 of Radian’s Second Quarter 2013 Presentation Slides available in the Investors section of Radian’s website at www.radian.biz .About Radian
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