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Tag Archives: Cures

Private Insurance Policies Increase in October, Dollar Volume Slackens

Private mortgage insurers reported issuing more policies in October than in the month prior--but dollar volume decreased over the month, according to monthly numbers released by Mortgage Insurance Companies of America (MICA). Member companies represented in the trade group's statistics reported issuing 38,908 insurance certificates for borrowers seeking to buy or refinance a home in October. At the same time, dollar volume on insurance written throughout the month totaled $8.7 billion, the lowest amount since May 2012.

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Private Mortgage Insurance Production Slows in August

According to monthly statistics released by Mortgage Insurance Companies of America (MICA), member companies issued 46,051 policies in August, down from 50,575 in July. Activity was still higher than last year, though, when members issued 43,949 policies. The drop came despite an increase in applications received in July. Meanwhile, loan performance picked up after deteriorating for four straight months, with the ratio of cures to defaults rising more than 15 percentage points to 93.6 percent.

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MICA Reports Fewer Policies, Greater Dollar Volume in December

Private mortgage insurance activity saw a slight lift in December, according to Mortgage Insurance Companies of America's (MICA) monthly statistical report. Member companies wrote a combined $10.7 billion in primary new insurance on conventional loans in December, up from a reported $10.4 billion in November. Primary insurance in force was nearly $400.7 billion at the end of the year, with December marking the seventh consecutive month of increases.

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LPS: Early-Stage Delinquencies Drive Up September Total

Mortgage loan delinquencies increased 7.72 percent from August to September--the largest monthly increase since 2008, according to a report from Lender Processing Services (LPS). The upturn was substantial, even for a month historically marked by seasonal rises in delinquency, LPS said. However, company analysts say it is important to look at the longer-term trend, which shows a significant decrease in the delinquency rate since its January 2010 peak.

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MICA Reports Continued Increases in Private Insurance

The number of borrowers using private mortgage insurance (MI) continues to climb, according to the latest monthly statistical release from Mortgage Insurance Companies of America (MICA). MICA's member companies - which include Genworth US Mortgage Insurance, Mortgage Guaranty Insurance, and Radian Guaranty - reported $397.5 billion in primary insurance during August, an increase from $396.4 billion in July. The total tally for primary insurance received a boost from reported monthly increases in volume, certificates issued, and applications.

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