Home >> News >> Data >> Radian Guaranty Sees Growth in New Insurance

Radian Guaranty Sees Growth in New Insurance

""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.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Production Profits, Volumes Drop at Independent Mortgage Lenders

Despite a record-high first mortgage loan balance, independent mortgage banks and mortgage subsidiaries weathered falling production profits and production volumes in 2017.

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.