More defaults on insured mortgagesby
Defaults by borrowers with private mortgage insurance rose 30% in August from a year earlier, according to new numbers from Mortgage Insurance Companies of America. There were 58,441 defaults this August vs. 44,918 a year earlier.
The trade association’s numbers come from members AIG United Guaranty, Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, PMI Mortgage Insurance Co., Republic Mortgage Insurance Company and Triad Guaranty Insurance Corporation.
If you want to see them for yourself, click on this link, then scroll to the bottom, download the .pdf or .xls attachment, and look for the primary insurance defaults column.