Shrinking origination pipelines have begun taking their toll on mortgage insurers as the volume of new primary mortgage insurance written for one- to four-family homes dropped to its lowest total February.

The Mortgage Insurance Companies America reported that the net private mortgage insurance written stumbled to $11.6 billion, a drop of $752 million from the $12.3 billion written in May. It was the lowest total since $10.5 billion was written in February.

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