Previously, Radian Guaranty, one of the members of MICA, reported it had more cures than defaults during the month.
However, new application volume in August was 48,038, down from 53,502 in July. The last time it was that low was in March, at 43,278. The numbers had been rising through the summer as interest rates started to climb and the purchase business started to come back.
New insurance written was $11.6 billion, down from $13 billion in July but up from $11.3 billion in August 2012.
While the amount of primary insurance in force continued to rise, the $2.5 billion rise between July and August to $415.5 billion, was substantially smaller than the $4.2 billion rise between June and July.
Besides Radian, the MICA data include Mortgage Guaranty Insurance Corp. and Genworth.