Since a pinkie-promise isn't good enough for most lenders, there's MGIC Investment's mortgage insurance to protect lenders from home buyers who don't hold up their end of the bargain. MGIC owns Mortgage Guaranty Insurance Corporation (MGIC), the largest provider of private mortgage insurance in the US, Puerto Rico, and Guam. Such coverage allows otherwise-qualified buyers who aren't able to scrape up the standard about 20% down payment to get mortgages. MGIC writes primary insurance on individual loans; its customers include banks, mortgage brokers, credit unions, and other residential mortgage lenders. MGIC had about $58 million primary insurance in force covering about 14 million mortgages.
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EMPLOYEES (This Site)
EMPLOYEES (All Sites)
- ASSETS (MIL USD) 7,355
REVENUE (MIL USD)
- TICKER SYMBOL MTG
- Year Started 1957
- Incorporated 1984
- FISCAL YEAR END JAN
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Timothy MattkeChief Executive Officer
TIMOTHY J MATTKEChief Executive Officer
CURT S CULVERChairman of the Board
SALVATORE MIOSIPresident and Chief Operating Officer