Mortgage insurance companies Radian and MGIC on Monday reported fewer claims on delinquent loans compared to a year ago.
Radian received 47,870 claims for payment on bad mortgages in August a 39% decline in from the previous year. The Philadelphia-based company wrote $3.59 billion in new insurance for the month, or 23% less than last year.
Meanwhile, MGIC reported a 27% drop in its claims to cover delinquencies. The company received 84,946 claims for the month, and also issued $3.5 billion in new insurance.
MGIC is headquartered in Milwaukee.