Net Loss. We experienced improved operating results in our mortgage insurance segment in  2012 compared to 2011,  primarily reflecting a significant decrease in the provision for losses and an income tax benefit compared to an income tax  provision in 2011. Based on our projections, which are subject to significant risks and uncertainties, we expect continued  improvement in the operating results of our mortgage insurance segment in  2013 and to achieve marginal operating profitability  in our mortgage insurance segment in 2013.  The improvement in the results for 2011 compared to 2010 primarily reflect a significant decrease in the provision for  losses and the establishment of a valuation allowance for substantially all of our deferred tax assets in 2010, as well as other  factors discussed below.  A key component of our current business strategy is to grow our mortgage insurance business by writing high-quality  mortgage insurance in the U.S. Consistent with this objective, we wrote $37.1 billion of primary new mortgage insurance in  2012, compared to $15.5 billion and $11.6 billion of primary NIW in 2011 and 2010, respectively. The significant increase in  NIW for the year ended December 31, 2012 compared to 201 1 and 2010 is attributable to an increase in the overall mortgage  market and the penetration rate of private mortgage insurance in the overall insured mortgage market, as well as an increase in  our share of the insured private mortgage market.  While the private mortgage insurance industry has made progress in  recapturing business from the FHA, the FHA ’s market share remains at historically high levels.  We have been more  aggressively marketing our product of ferings that favorably compete with the FHA  in order to regain market share from the  FHA. In the second quarter of 2011, we implemented a series of changes to our underwriting guidelines, including a more  efficient underwriting process for loans conforming to the GSE guidelines. In addition, we lowered our monthly premium rates  on borrower paid mortgage insurance during the second quarter of 201 1 to rates that were in line with much of the mortgage  insurance industry.  As a result of changes made since 2008 that aimed to improve the long-term risk profile and profitability of our business,  the credit profile of our mortgage insurance portfolio has improved, which has improved our profitability by positively  impacting losses incurred on the newer mortgage originations. 2008 was a transition year during which we phased in many of  the guideline changes. Since 2009, almost all of our new business production has been prime business. In addition, Fair Isaac  Corporation (“FICO”) scores for the borrowers of these insured mortgages have increased, while the loan-to-value ratio  (“LTV”) on these mortgages has decreased, meaning that borrowers generally are making lar ger down payments in connection  with the more recent mortgages that we are insuring.  In 2009, the GSEs began offering the Homeowner Affordable Refinance Program (“HARP”). HARP  allows a borrower  who is not delinquent to refinance a mortgage if such borrower has been unable to take advantage of lower interest rates  because the borrower’s home has decreased in value. In November 2011, the Federal Housing Finance Agency (“FHFA”) made  enhancements to the HARP program (previously defined as “HARP  2”) that expanded the number of borrowers who can  qualify for refinancing. Importantly , Radian Guaranty and other private mortgage insurers have agreed with the FHF A to  facilitate the transfer of mortgage insurance on loans to be refinanced without regard to L TV. While HARP 2 may result in  fewer delinquent loans and claims, our ability to rescind coverage on HARP  loans will be limited in certain circumstances  pursuant to our agreement with the FHF A. The changes implemented by HARP 2 have increased the number of borrowers who  may benefit from the program and, as of December 31, 2012, approximately 9% of our total primary RIF had successfully  completed a HARP refinance. HARP loans are excluded from NIW , but have had a positive impact on the overall credit quality  and composition of our mortgage insurance portfolio given that under the new refinanced loan, the borrower generally has a  greater ability to pay and more financial flexibility to cover its obligations. During 2012, HARP  loans accounted for $8.9 billion  of insurance not included in Radian Guaranty’ s NIW for the year. 97 NIW, Insurance in Force, RIF