Home >> News >> Origination >> Mortgage Insurers Report May Growth
Print This Post Print This Post

Mortgage Insurers Report May Growth

Private mortgage insurance business saw a sharp increase for the third straight month in May, according to a monthly report from ""Mortgage Insurance Companies of America"":http://www.privatemi.com/index.cfm (MICA).

[IMAGE] [COLUMN_BREAK]

The report includes data from member companies ""Genworth Mortgage Insurance Corporation"":http://mortgageinsurance.genworth.com/, ""Mortgage Guaranty Insurance Corporation"":http://www.mgic.com/, and ""Radian Guaranty Inc."":http://www.radian.biz/page?name=HomePage

Together, the companies issued 52,545 certificates on new mortgage loans totaling more than $12.0 billion in volume. MICA reported a total of $405.7 billion in primary insurance in force as of May.

The increase in volume comes as little surprise, given the rising trend in applications received over the last several months. With applications totaling 55,535 in May (an increase of more than 5,000 over April), activity should continue to improve.

MICA members reported 17,372 defaults and 19,558 cures in May, bringing the cure-to-default ratio (88.8 percent) down again. The ratio peaked in March at 138.5 percent and has steadily fallen since.

x

Check Also

More Than Half of Americans Feel Homeownership Is Unattainable

A new survey from Home Bay takes the pulse of how Americans feel about homeownership—and how far out of reach many feel it may be.Â