Radian Guaranty Inc.'s primary delinquent loan inventory decreased by 1,876 loans in April, but the number of new delinquencies outpaced the number of cures reported by 1,244 loans.
The inventory started the month with 116,896 loans. In the company's first quarter results conference call, it noted that 52% of those had 12 missed payments or more. Nearly 32% were in the four-to-11 missed payment bucket, while the rest had missed three or fewer payments.
There were 7,222 new delinquencies added to the inventory during April, with just 5,978 cures reported. However, 2,528 loans where the claims were paid (including those charged to a deductible or a captive reinsurance arrangement) plus another 592 loans where there was a policy rescission or claim denial resulted in an end of April inventory of 115,020 loans.
Radian also reported $700 million of primary new insurance written during April.
