The delinquent loan inventory at Mortgage Guaranty Insurance Corp., Milwaukee, Wis., fell by over 3,900 loans in November, although new delinquency notices outpaced cures by 1,169 loans.
The company started the month with 219,934 loans in its delinquent inventory. There were 16,066 new notices and 14,879 cures during the month.
For October, there were 16,701 new notices and 14,844 cures. The decline in the delinquent loan inventory for that month was over 3,400 loans.
Paid claims, including those charged to a deductible or to captive reinsurance, removed another 4,081 loans from the inventory, while rescissions and denials cut another 998 loans. In October, there were 4,043 paid loans and 1,253 rescissions and denials by MGIC.
During November, the company had $1.4 billion of primary new insurance written, up from $1.3 billion in October. For all of the fourth quarter 2009, MGIC had under $3.0 billion of primary new insurance written.
