NMI Holdings Inc., the parent of National Mortgage Insurance Corp., reported record income. While new business slipped, the company’s book of business expanded.

From Jan. 1, 2018, through March 31, income before income taxes was $27 million, according to the Emeryville, California-based company’s first-quarter earnings report.

Income soared compared to the same three-month period in 2017, when National M.I. earned $7 million, and the preceding three-month period, when income was $17 million.

Source: Mortgage Daily