Mortgage Insurers Report Decline in June Policies, Rise in Dollar Volume

June saw a decline in the number of private mortgage insurance policies issued, though dollar volume for those policies increased, according to the latest monthly report from ""Mortgage Insurance Companies of America"":http://www.privatemi.com/index.cfm (MICA).

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June's report includes data from MICA member companies ""Genworth Mortgage Insurance Corporation"":https://www.genworth.com/products/mortgage-insurance.html?iid=gnw:Home:tab:OB:MorgageInsurance, ""Mortgage Guaranty Insurance Corporation"":http://www.mgic.com/, and ""Radian Guaranty Inc."":http://www.radian.biz/page?name=HomePage

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Combined, the three companies issued 49,666 insurance certificates, down from 52,545 in May. June's decline was the first since February, when the number of certificates issued dropped by more than 2,000 from the previous month.

While policies fell, dollar volume rose, jumping to nearly $12.3 billion from May's $12.0 billion.

As of the end of June, primary insurance in force totaled $408.8 billion, the largest monthly increase so far this year. Primary risk in force totaled $102.3 billion at the end of the second quarter.

Private mortgage insurance application volume also turned down for the first time since February, with MICA members reporting 52,570 new applications received in June. May's volume was a reported 55,535.

Finally, member companies reported 20,489 defaults and 16,816 cures in June, bringing the cure/default ratio down again to 82.1 percent.