""Radian Guaranty Inc."":http://www.radian.biz/page?name=HomePage released data for primary mortgage insurance delinquencies for July, revealing growth in primary new insurance and a drop in delinquent loans.[IMAGE]
According to the release, Radian wrote $3.37 billion in primary new insurance for the month of July, an increase from $3.08 billion in June.[COLUMN_BREAK]
In addition, loan delinquency was down in July, with primary delinquent inventory falling to 97,012 from 98,450 the month before.
This release followed a more dismal earlier report on the company's second-quarter financial earnings, which showed a net loss of $119.3 million. CEO S.A. Ibrahim said he is confident in Radian's future.
""We remain steadfast in executing against our strategy and on managing what we can control in this challenging macroeconomic environment,"" Ibrahim said. ""Our success in growing our [mortgage insurance] business and managing our capital is evident, as we tripled Radian's volume of new business and leveraged the capital support of our financial guaranty business to maintain a competitive risk-to-capital ratio of 21.0 to 1.""
""We are encouraged by the continued improvement in our legacy MI portfolio as our number of delinquent loans decline steadily. The improving composition of our overall MI book helps position Radian for future success and a return to profitability.""
Radian Guaranty Inc. is a subsidiary of Radian Group Inc., which is headquartered in Philadelphia, Pennsylvania.