Radian writes $2.73 billion in new mortgage insurance

Mortgage insurer Radian Guaranty (RDN) wrote $2.73 billion in new business in May, up from $2.55 billion in April.

During the same month, delinquencies declined slightly from roughly 101,000 delinquent loans in April to 99,694 in May.

For the month, the company recorded 5,850 new delinquencies within its insured mortgages portfolio. However, 4,421 delinquencies were cured. In addition, there were 1,810 less paids and 1,491 rescissions and denials during May.

Philadelphia-based Radian’s mortgage product mix is heavily weighed toward monthly premiums. The firm said that 67% of its new business in the first two months of the second quarter was constructed on the monthly-premium premise. The remaining 33% was written with single premiums or one-time payments from the insured parties.

“This compares to a mix of 64% monthly premiums and 36% single premiums in the first quarter of 2012, and 57% monthly premiums and 43% single premiums in the fourth quarter of 2011,” Radian Guaranty said.

kpanchuk@housingwire.com