Radian Guaranty Inc., Philadelphia, reported an increase of just over 8% in the number of new notices of delinquency between April and May, while the number of cures fell 13%.
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The company posted 7,844 new delinquencies and 5,217 cures in May, compared with April's 7,222 and 5,978 respectively.
Still, Radian's primary delinquent loan inventory declined by 827 loans as the number of paid claims increased to 2,613 from 2,528 and the number of rescissions and denials increased to 841 from 592.
The mortgage insurer said there was a “relative improvement” in its reserve development and loss provisioning this spring.
