Radian Sees its New Policies Business Increase
Radian Guaranty wrote $4 billion of new mortgage insurance in October, a 14% increase from September.
In other positive news, its delinquent loan inventory fell by 900 units, but it registered 5,666 notices of default during the month. At the beginning of the month its delinquent inventory stood 94,831 loans.
Philadelphia-based Radian said the numbers were offset by 5,198 loans which cured, 1,450 loans where it paid on existing coverage, and 81 rescissions or denials. This brought the inventory down to 93,980 units.
Radian reiterated that it has a cash position of $3.2 billion, which was mentioned in its third quarter results released last week.