MICA No Longer Includes Radian

The Radian Group Inc. is no longer a member of the Mortgage Insurance Companies of America, effective July 1, a spokesman for the trade group and a spokeswoman for the company have confirmed.When MICA issued its monthly statistics for July, a footnote indicated that Radian did not provide data for the report. The remaining private mortgage insurers recorded $30.6 billion in primary new insurance written during July, with $28.2 billion in traditional and $2.4 billion in bulk. In June, with Radian included in the data, there was $36.4 billion of primary new insurance written. Application volume fell from 334,385 (with Radian data) in June to 291,678 (without Radian) in July. Meanwhile, the cure/default ratio continued to slip, going from 90.5% in June to 78.5% in July, with 35,131 cures and 44,743 defaults. MICA can be found online at http://www.micanews.com.