Insurers Radian, MGIC Lower Delinquencies in October

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Mortgage insurers Radian Guaranty Inc. and MGIC Investment Corp. both saw their inventory of delinquent loans drop during October.

According to figures provided by Philadelphia-based Radian, the company entered the month with 46,843 delinquencies, plus added 4,098 loans to the inventory during the month. But the company was able to cure 3,676 of its delinquent loans, and saw a little over 1,000 more come off its books thanks to claims paid, rescissions and denials.

Radian finished October with 46,242 delinquent loans. The company wrote $3.75 billion in new insurance policies during the month.

MGIC, headquartered in Milwaukee, entered the month with 83,154 delinquencies and there were 7,543 new loans added to the inventory. But the company reduced its total through 6,564 cures, 1,704 payments, and 60 rescissions and denials, ending the month with a total of 82,369 in delinquent loans. It wrote $3.3 billion of new policies during October.

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