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MICA reported PMI statistics for December 09

“Mortgage insurers continue to play a key role in the national effort to stabilize the housing market.”
said Suzanne C. Hutchinson, EVP of MICA.


“Mortgage insurers are helping to prevent foreclosures by working with loan servicers, investors and lenders to modify and refinance home loans for troubled borrowers,”

Key private mortgage insurance industry statistics for the month of December:

  • Dollar Volume. The dollar volume of primary new insurance written on newly originated conventional mortgage loans totaled $5,096.8 million in December.
  • Certificates Issued. MICA’s members reported that 19,989 borrowers used private mortgage insurance to buy or refinance a home in December.
  • Applications. The number of private mortgage insurance applications received in December by MICA’s members totaled 26,284.
  • Defaults and Cures. MICA’s members reported 94,651 defaults and 61,032 cures in December.

The statistics in this month’s report include data from the following MICA member companies: Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, PMI Mortgage Insurance Co., Radian Guaranty Inc., Republic Mortgage Insurance Company and United Guaranty Corporation.

MICA is the trade association representing the private mortgage insurance industry. Its members help loan originators and investors make funds available to home buyers for low down payment mortgages by protecting these institutions from a major portion of the financial risk of default.

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