Radian Guaranty’s inventory of delinquent loans declined by 4,600 during March, but the total includes updated information for
The company did not update what it reported in its release for February regarding the size of the inventory at the end of that month. There were 89,714 loans in the inventory at that time. Added to that were 4,168 new notices from servicers for March and previously unreported for February.
These were offset by 6,338 cures (also including unreported data from servicers for February), plus paid claims on 2,028 loans and rescissions and denials of coverage on another 407 loans, bringing the inventory to 85,109 as of March 31.
Radian said that for February and March combined, there were 9,646 new delinquencies and 11,223 new cures.
New insurance written during March totaled $3.63 billion, up from $3.29 billion in February.
The March summary added that Radian Group contributed $115 million in capital to Radian Guaranty. At the end of February, Radian Group raised approximately $700 million
The parent company still has more than $800 million in liquidity available and it expects to maintain a risk-to-capital ratio of 20-to-1 or below at Radian Guaranty for the foreseeable future.
