Mortgage Guaranty Insurance Corporation

Type: Subsidiary
On the web: http://www.mgic.com
Employees: 1,127

Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation, provides private mortgage insurance to home mortgage lenders throughout the US. It offers primary coverage (which allows customers to buy a home with a down payment of less than 20%, protecting lenders against borrower default) and pool insurance (covering losses exceeding claim payments on primary insurance). MGIC is the largest private mortgage insurance provider based on new primary business written, with more than 20% of the market share. The company is licensed in all states, the District of Columbia, and Puerto Rico.

Key numbers for fiscal year ending December, 2007:
Sales: $327.3M

Officers:
Chairman and CEO: Curt S. Culver
President and COO: Patrick Sinks
EVP and CFO: J. Michael Lauer

Competitors:
Genworth Mortgage Insurance
PMI Group
Radian Guaranty

This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (February 2008)

Name	Mortgage Guaranty Insurance Corporation
Headquarters	Milwaukee, Wisconsin
Symbol	MTG on New York Stock Exchange (NYSE)
Index	Included in Standard & Poor's 500 Stock Index
Principal Subsidiary	MGIC, the nation's leading private mortgage insurer
Financial Strength Ratings	Standard & Poor's, A-[1]; Moody's Investors Service, Aa2; Fitch Investors Service, AA+ (ratings may be dated)
Company website	www.mgic.com
Investor website	www.mgic.com/investor
Industry website	www.privatemi.com

Mortgage Guaranty Insurance Corporation (a subsidiary of MGIC Investment Corporation) NYSE: MTG is the largest provider of private mortgage insurance in the United States.^{[citation needed]}

In addition to mortgage insurance, MGIC provides lenders with various underwriting and other services and products related to home mortgage lending.

The company is based in Milwaukee, Wisconsin, where it was founded in 1957 by Max Karl. He was a real estate agent who noticed that his clients had trouble with paying for their new homes. Karl believed that it would be better if there was a company that could insure the top part of the mortgage not all of it.

External links

• MGIC corporate website

References

1. ^ http://milwaukee.bizjournals.com/milwaukee/stories/2008/12/22/daily2.html

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