The nation's six active mortgage insurance firms wrote $22.89 billion worth of coverage in the second quarter, a 61% decline from the same period last year, according to figures compiled by National Mortgage News. Even though originations are on the rise, the MIs have been constrained by their weak capital positions which hurts their ability to write news business. They also have lost customers to the Federal Housing Administration's insurance program. In the second quarter MGIC Investment Corp. ranked first with $5.9 billion in coverage, followed by Radian Guaranty ($5.49 billion), and United Guaranty Inc. ($3.9 billion). UGI is for sale. Investor Wilbur Ross has been mentioned as being a leading candidate to buy the company.
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