Activity at private mortgage insurance firms remained very high for May, although there was a slight dropoff in business when compared with April's numbers, according to data compiled by the Mortgage Insurance Cos.of America. There was $14.5 billion in net primary new insurance written in May, a decrease of 2% from April, while the net number of applications was 160,904, down 6.4%. [Click here to see the chart.] This is the third straight month that the number of applications has declined. Even so, for the first five months of 1998, application volume is nearly 60% ahead of where it was at this time last year, while the dollar volume of new insurance written is 50% ahead.
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