Any thoughts on RDN's monthly statistics comparatively?
1) RDN only reduced their delinquent inventory by .28% whereas MTG reduced their's by 1.53%.
2) RDN wrote 53% more new insurance (I know they write single premium which is less profitable but it's still more written).
Selectivity (underwriting) is soo important than numbers. Plain words, I could be backed up with business but, is it profitable business? As the used car sales manager would say, you just get them in here, we will make em sign.
agree. Monthly premiums with extended loan lives (which is in the cards), will be enormously more profitable than single premium. 2-3 years + out, MTG will be killing RDN from a profitability perspective.