Mortgage delinquencies continued to fall in September, according to data recently released from Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc.
The firm reports that 46,843 loans in its inventory were delinquent in September, compared to 47,364 at the end of August. About 65,239 mortgages in its inventory were delinquent one year ago. The number of delinquent loans dropped to below 50,000 in July.
In addition to the fact that mortgage servicers continue to see delinquency rates drop, they have also gotten much better at ‘curing’ them as soon as a problem comes up. According to Radian, about 4,012 new delinquencies were recorded in September, of which about 3,558 were cured that same month.
The company reports that it wrote about $3.79 billion in mortgage insurance in September, compared to about $3.59 billion in August. Although the company is seeing increased business, the amount of private mortgage insurance it wrote was nevertheless down compared to the $3.83 billion in policies it sold in September 2013.
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