September was the second worst month of the year so far for the amount of new private mortgage insurance written as underwriters did $2 billion less than in August, the industry’s trade group reports.
The month is traditionally slow for mortgage originators as the
There was $9.6 billion of NIW in September, compared with $11.6 billion in August, said the Mortgage Insurance Cos. of America. Last September, the industry did $10.1 billion, down from $11.3 billion in in August 2012.
September ended with $417.3 billion of primary insurance in force, up from $415.5 billion at the end of the previous month.
The cure/default ratio was 82.7%, down from 96.3% in August, but up from 75.7% in September 2012.
There were over 17,000 cures and 20,600 new notices of default reported.
