August MICA Data From Piper Jaffray

Piper Jaffray has published a research report for the Mortgage Insurance Companies of America (MICA) following the release of August data. In the report, Piper Jaffray writes "August [reflected] a 90.9% cure ratio, compared to 57.6% in August of 2009. August cures and defaults totaled 58,094 and 63,882, respectively. Historically, August reflects elevated sequential cure rates and this month's data remains in line with trends. This month's cure rate, the highest in seven years for the month of August, results from both improving delinquency trends and a seasonal uptick in cures. Looking ahead, September historically shows a modest sequential drop in cure rates, however, given the environment, we believe results may prove to be better than historical trends." Related companies in this report were MGIC Investment Corp.

and Radian Group Inc.

.