Although the home foreclosure inventory is falling compared to a year ago, some metropolitan areas are seeing an increase in new filings, including Atlantic City.
The third-quarter figure was the largest new insurance written total for the industry since 1Q 2008, when private MIs booked $72.17 billion of new coverage.
The goal of the program is to help stabilize neighborhoods that were hardest hit by the real estate downturn by letting local community organizations review and purchase foreclosed properties first.