Slightly less than last month which was $2.9B I believe. Slightly lower than my prediction for $2.8B. Still $2.5B is probably still good given the interest rate hike and slowed mortgage activity. I expect the PPS to remain unchanged.
A 13.64% increase in NIW from last September isn't the 25% I was wishing for but certainly very good news. I mean, a company in another industry would kill for a 13% increase YoY. I would like to see a lower ending inventory since I think being under 100,000 is a big mental milestone for people looking to buy but a reduction of 1,741 is still nice progress. Overall, I like the numbers.
Greater numbers. Paid claims dropped to lowest since I remember. Cures loan was higher too. $2.5B for ugly September was very good writing. I believed $.3 of NIW writing was from FHA which MGIC captured more market share during Sep.
$2.5B is solid, but not inspiring. it won't likely prove a catalyst for pps expansion short-term, but the Y-o-Y comparisons are impressive.
I also find it noteworthy that the ER and CC are scheduled for the 16th, which is almost a week earlier than I had expected. I wonder if there is any particular news item that may be close to consummation which is driving the early date. I guess we will all see soon enough.
Very good report. Of course I would always like to see cures a little higher(in the mid 8000 range) but still there is nothing in this report that will hurt the pps. Now to look forwsrd to earnings next Wednesday.