DSNews The homepage of the servicing industry
""Radian Guaranty Inc."":http://www.radian.biz/page?name=HomePage reported a decline in primary mortgage insurance delinquencies in August, helped in part by a recent agreement with Freddie Mac that eliminated some of the insurer's claim exposure.
[IMAGE] [COLUMN_BREAK]The monthly release, based on statistics reported to Radian from loan servicers, showed delinquent inventory fell by 11,715 (15.2 percent) over August to end the month at 65,427.
The majority of the monthly decline came from a ""master transaction agreement"":http://dsnews.comarticles/radian-announces-claims-agreement-with-freddie-mac-2013-09-06 with Freddie Mac which removed its exposure to 9,756 loans that were delinquent as of December 31, 2011 (in addition to 4,586 re-performing loans). Aside from that, there were 4,909 cures in August and 1,635 loans marked as paid.
On the other hand, the month saw 4,457 new delinquencies and 128 rescissions and denials.
Apart from delinquencies, the mortgage insurer reported $4.67 billion in new primary insurance written throughout August, coming in under July's $5.29 billion.
Radian Guaranty is the mortgage insurance subsidiary of Radian Group Inc., based in Philadelphia.
