Insurance

Insured Defaults up 10% 

[Update 1: includes clarification of Radian’s influence on year-on-year figures] Defaults on privately insured US mortgages are up nearly 10% percent from one year ago. However, defaults fell more than 3% in April from March, by way of comparison. It marked the third consecutive month of decline in primary insurance defaults, since the 106,482 defaults seen in January. After falling more than 6% in March from February, primary insurance defaults slipped to 81,171 in April, according to data released Friday by the Mortgage Insurance Companies of America (MICA).