Quarterly earnings set a new record, while new business was better at National Mortgage Insurance Corp. As the book of business expanded, delinquency declined.

Second-quarter earnings data from parent-NMI Holdings Inc. indicate that income before income taxes worked out to $32 million during the three months ended June 30.

Earnings soared from the same quarter in the preceding year, when they came in at $9 million, and beat the record $27 million that was earned in the first three months of this year.

Source: Mortgage Daily