Primary new insurance written of $3.2B in June compares to $2.8M in May and $2.8B a year ago. June 30 ending delinquent inventory of 85,416 loans slips from 86,415 a month earlier. One year ago, it was 117,105.
The quick read says MGIC saw a boost in new insurance written from both a month previous and a year ago - a good thing given the slowdown in the housing market. Nevertheless, shares are sharply lower after-hours, and it could be the minor reduction in delinquent inventory which previously had been rolling off far faster.
MTG -3.8% AH