MICA Reports Fewer Policies Greater Dollar Volume in December

MICA Reports Fewer Policies Greater Dollar Volume in December

first_img February 1, 2013 475 Views MICA Reports Fewer Policies, Greater Dollar Volume in December Agents & Brokers Attorneys & Title Companies Cures Defaults Genworth Mortgage Insurance Corp. Investors Lenders & Servicers Mortgage Guaranty Insurance Corp. Mortgage Insurance Mortgage Insurance Companies of America Radian Guaranty Inc. Service Providers 2013-02-01 Tory Barringer in Origination, Secondary Marketcenter_img Share Private mortgage insurance activity saw a slight lift in December, according to “”Mortgage Insurance Companies of America’s””:http://www.privatemi.com/index.cfm (MICA) monthly statistical report.[IMAGE]The report includes data from “”Genworth Mortgage Insurance Corporation””:https://www.genworth.com/#tab1-tab, “”Mortgage Guaranty Insurance Corporation””:http://www.mgic.com/, and “”Radian Guaranty Inc.””:http://www.radian.biz/page?name=HomePage, all members of the trade association.The three 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. [COLUMN_BREAK]It was the third highest monthly total for all of 2012, taking November’s previous position under October ($11.5 billion) and August ($11.3 billion).Primary insurance in force was nearly $400.7 billion at the end of the year, with December marking the seventh consecutive month of increases.Applications for private mortgage insurance saw a second monthly slip in December, declining to 38,915 from 41,952 in November. August held the high record for 2012 applications (46,891), while January came in at the bottom (24,097).MICA members also reported a monthly decline in insurance certificates issued. The companies issued 36,543 policies in December, down from 39,220 the previous month. Again, August took the top spot in 2012 with 43,949 policies issued. January sat on the other end with 21,904.Meanwhile, primary insurance cures climbed to 20,048, resting above November (19,801) and slightly below October (20,068). Primary insurance defaults also increased, rising to 24,585 from November’s 23,485. The ratio of cures to defaults at the end of December was 81.5 percent, MICA reported.last_img

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