Quarterly income was higher and delinquency was lower at Arch Mortgage Insurance Co. At the same time, the book of business and new insurance written were both lower.

Arch Capital Group LTD, the parent of Arch M.I., disclosed in its first-quarter earnings report that it earned $188 million before income taxes in the three months ended March 31.

Results at the Greensboro, North Carolina-based firm worsened when compared to $302 million earned one year earlier. Income was also down from $259 million three months earlier.

Source: Mortgage Daily