(Reuters) – Radian Group Inc, the biggest private U.S. mortgage insurer, wrote the second-highest quarterly volume of new insurance in its history, helped by a recovering housing market and fewer loan defaults.
However, the company posted a loss for the third quarter compared with a profit a year earlier as it booked a loss on investments after a large net gain in the prior period.
A recovery in the housing market has helped mortgage insurers attract new and profitable business, giving them some respite from the losses they have been posting since 2008.
"The high-quality business written after 2008, which represents 57 percent of our primary risk in force, is expected to generate attractive returns," Radian Chief Executive SA Ibrahim said in a statement.
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