June was the best month of the year by far for the nation's private mortgage insurers, according to data issued by the Mortgage Insurance Companies of America.The organization's members wrote $23.15 billion of primary new insurance in June, up nearly 30% from $17.97 billion in May, which had been the previous best month of the year. By category, the $15.43 billion of traditional insurance and $7.72 billion of bulk MI represents the best month for each. As of midyear, there was $605.8 billion of primary insurance in force and $140.8 billion of primary risk in force. The MI companies wrote $28.9 million of pool insurance during the month and there is now $9.15 billion of pool risk in force, down from $11.9 billion a year ago. The cure/default ratio continues to slip. There were 29,779 cures and 40,622 defaults in June, bringing the ratio to 73.3%, down from 77.8% in May. The ratio peaked at 112.5% in February. MICA membership consists of all of the industry's participants except Radian. The organization can be found online at http://www.micanews.com.

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