Mortgage Guaranty Insurance Corp.'s delinquent loan inventory declined by more than 1,000 loans in October although new notices outpaced cures by 3,500 loans.
There were 180,894 loans in the inventory at Aug. 31. MGIC reported that it had new notices of 14,545 and cures of 11,040. But the difference was made up through paid claims for 4,074 loans, plus the Milwaukee company issued rescissions or denials on 501 loans. This brought the inventory for the month down to 179,824.
For October 2010, MGIC reported new delinquency notices of 16,701 loans, cures of 14,844, paid claims of 4,043 loans and rescissions or denials of 1,253 loans.
There was $1.4 billion of primary new insurance written during the month, similar to September's total and slightly higher than the $1.3 billion written in October 2010.
