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Radian Doubles Policies Written in 2012

JAN 9, 2013 3:26pm ET
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Radian Guaranty Inc. did $37.1 billion in primary new mortgage insurance written in 2012, more than double the $15.5 billion for all of 2011. In 4Q12, Radian’s NIW was approximately $11.6 billion.

For December alone, the company did $3.85 billion, almost even with November’s $3.84 billion.

In comparison, MGIC said it did $2.2 billion for December and $7 billion for 4Q12. The numbers released by both Radian and MGIC do not include HARP refinancings.

During December, Radian’s inventory of delinquent loans actually increased by 399 loans. It started the month with 92,770 loans in the inventory and there were 6,740 new notices of delinquency but only 4,658 cures. MGIC had an almost equal number of new notices and cured loans.

In addition, paid claims took another 4,638 loans from the inventory while Radian either rescinded or denied coverage on another 65. The year ended with 93,169 loans in the inventory.

For all of 2012, the inventory shrank by 17,692 (even with the December increase) as compared with 14,609 in 2011.

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