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MI Cure Ratio Falls in July

Month Cures Defaults Ratio

July '02 36,564 46,962 77.90%

Aug. '02 29,008 45,956 84.90%

Sept. '02 41,331 49,050 84.30%

Oct. '02 41,726 51,765 80.60%

Nov. '02 44,539 58,835 88.40%

Dec. '02 43,570 53,566 81.30%

Jan. '03 4,682 58,835 75.90%

Feb. '03 52,288 49,334 106.00%

March '03 50,059 47,646 105.10%

April '03 46,882 45,098 104.00%

May '03 41,672 51,255 81.30%

June '03 43,560 48,156 90.50%

July '03 35,131 44,743 78.5%*

Note: Beginning in July '03, Radian Guaranty is no longer included in the data. The companies included in all months are GEMICO, MGIC, PMI, RMIC, Triad and UGC.

Source: MICA.

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