June 14, 2011 (Shirley Allen)
Mortgage insurance provider Radian Guaranty Inc., reports improved performance in its delinquent loan inventory as the overall number of delinquent loans that it insures continued to drop in May, despite an uptick in delinquencies from the previous month.
Radian reports that the total number of loans in its delinquent inventory for May, 2011, was 114,193 compared to 115,020 in April. Radian’s quarterly financial report showed that at the end of the first quarter 2011, the delinquency inventory stood at 116,896, which compared to a delinquency inventory of 143,914 at the end of the same quarter, the previous year.
Likewise, not only has the number of delinquent loans in its inventory declined, the percentage of delinquent loans has also declined. At the end of the first quarter of 2010, 17.64 percent of loans in its inventory were delinquent, but at the end of the first quarter of 2011 that percentage had dropped to 15.52.
Despite the decline in total inventory, the number of new delinquencies increased month-over-month as 7,844 new delinquencies were reported in May 2011, compared to 7,222 in April.
Report highlights:
| April 2011 | May 2011 | ||
| Primary New Insurance Written ($ in billions) | $0.7 | $0.7 | |
| Beginning Primary Delinquent Inventory (# of loans) |
116,896 | 115,020 | |
| Plus: New Delinquencies | 7,222 | 7,844 | |
| Less: Cures | (5,978) | (5,217) | |
| Less: Paids (including those charged to a deductible or captive) |
(2,528) | (2,613) | |
| Less: Rescissions and Denials | (592) | (841) | |
| Ending Primary Delinquent Inventory (# of loans) |
115,020 | 114,193 | |
The information regarding new delinquencies and cures is reported to Radian from loan servicers. The accuracy of these reports may be affected by several factors, including the date on which the report is generated and by the timing of servicing transfers.
Tags: Radian, loan delinquencies, delinquent inventory, mortgage insurance, new delinquencies, cures, paids
