Mortgage Guaranty Insurance Corp.'s inventory of delinquent mortgage loans fell by just over 4,000 during May, according to a statement issued by the nation's largest MI firm. At the beginning of the month there were 235,891 with primary mortgage insurance that were delinquent. New default notices were issued on an additional 15,523 loans. There were 15,385 cures during May, plus another 3,553 loans on which claims were paid (including loans charged to a deductible or captive reinsurance). Another 958 loans had the claims either denied or MGIC sought rescission. This brought the delinquent inventory down to 231,508 as of May 31. In May, MGIC had $800 million of primary new insurance written.
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