The volume of primary new mortgage insurance written rose in November thanks to a surge in bulk insurance, according to data collected by the Mortgage Insurance Cos. of America.Mortgage insurance firms wrote $25.56 billion of traditional MI and $4.45 billion of bulk MI in November, for a total of $30.11 billion. The amount of traditional insurance written was off 0.3% from October's total, but bulk volume surged 133.7%. Applications decreased by 4% to 269,436 in November. New pool risk written totaled $668.1 million, a 184% increase from that of October. The cure/default ratio increased from 80.6% in October to 88.4% in November. MICA can be found on the Web at www.micadc.org.
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