Question:

Who are the Mortgage Guaranty Insurance Corporation (MGIC)?

Answer:

The Mortgage Guaranty Insurance Corporation (MGIC) are a leading provider of private mortgage insurance for the US and Puerto Rico. They are a private mortgage insurer established in 1954, helping people attain ownership with less than 20% down payment.

The Mortgage Guaranty Insurance Corporation (MGIC) founder was a real estate attorney who first came up with the idea of insuring not the whole loan amount but only the top 20%. Owing to the idea of private mortgage insurance for the top of a mortgage loan, borrowers' monthly mortgage payments were greatly reduced and homeownership became a lot more affordable. 

MGIC Investment Corporation is the parent company of Mortgage Guaranty Insurance Corporation (MGIC). MGIC Investment Corporation is a credit risk management company offering globally a variety of financial services.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 3/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: