Even though new business fell from the previous quarter at Genworth Mortgage Insurance Corp., its book of business and profitability both improved.

Income from continuing operations before income taxes worked out to $228 million, parent Genworth Financial Inc. revealed in its first-quarter earnings report.

Income at the Richmond, Virginia-based firm declined from $332 million earned in the first-three months of last year. But earnings swung from a $290 million loss in the final-three months of 2017.

Source: Mortgage Daily