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Mortgage Insurers Wrote $7.1B in New Primary Insurance in April

Three mortgage insurers wrote $7.1 billion in newly originated primary mortgage insurance in April, up from $3.7 billion last year, according to the ""Mortgage Insurance Companies of America"":http://www.privatemi.com/index.cfm (MICA).

MICA said that the companies, including ""Genworth Mortgage Insurance Corp."":http://mortgageinsurance.genworth.com/, ""Mortgage Guaranty Insurance Corp."":http://www.mgic.com/, and ""Radian Guaranty Inc."":http://www.radian.biz/page?name=HomePage, fielded new primary insurance up from $6.7 billion in March.

Some 30,575 borrowers used private mortgage insurance to buy or refinance their homes in April.

The insurers reported 22,569 defaults and 20,678 cures in April. Private mortgage insurance applications hovered at 33,013 that month.

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About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
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