The number of homeowners who defaulted on privately insured mortgages reached 76,776 last month, the most since the Mortgage Insurance Companies of America changed its methodology for tallying the figures in April. Mortgage insurance pays lenders when homeowners default, and is typically required when a borrower puts down less than 20 percent on a home.

The Washington-based group said 41,400 homeowners covered by its members got loan payments back on track.

Mortgage insurers have faced mounting losses this year as a record number of homeowners proved unable to keep up with payments. Triad Guaranty Inc. stopped selling policies in July after capital to fund claims from new business ran short.

The figures from MICA aren't comparable to any month prior to April because the association changed the way it calculates defaults that month. Triad, the smallest of the six companies that provided data to the group, stopped supplying information on its existing customers in July.

Triad and the top two mortgage insurers - MGIC Investment Corp. and PMI Group Inc. - have lost more than 80 percent of their market value this year through Thursday.