Mortgage insurer MGIC says number of delinquent loans under coverage dipped in August

MGIC added $1.2B in mortgage coverage in August

MILWAUKEE — Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.

The company, which sells mortgage insurance coverage to lenders, ended the month with 224,410 delinquent loans. That’s down from 229,012 delinquent loans at the end of July.

MGIC is the primary subsidiary of MGIC Investment Corp. and had $202.4 billion in primary insurance in force covering 1.3 million mortgages as of June 30.

MGIC shares added 64 cents, or 8 percent, to $8.62 in afternoon trading.