Private Mortgage Insurers Report Gains

Activity in the private mortgage insurance sector picked up in April, according to monthly statistics from ""Mortgage Insurance Companies of America"":http://www.privatemi.com/index.cfm (MICA).

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MICA members issued 46,393 certificates in April, an increase from March's 40,893 policies. In terms of dollar volume, member companies wrote approximately $11.4 billion in mortgage insurance--more than $1 billion above March's total.

MICA reported a total of $403.9 billion in primary insurance in force as of the end of the month.

The coming months are primed for additional improvements, with about 49,018 private insurance applications being received in April--an increase of nearly 6,000 over March and the highest level reported in more than a year.

MICA members reported 17,309 defaults and 19,501 cures in April, bringing the cure-to-default ratio down to 112.7 percent from March's 138.5 percent.

April's report includes data from ""Genworth Mortgage Insurance Corporation"":https://www.genworth.com/#tab1-tab, ""Mortgage Guaranty Insurance Corporation"":http://www.mgic.com/, and ""Radian Guaranty Inc."":http://www.radian.biz/page?name=HomePage