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.
Final piece of advice: Monitor your credit report and score regularly, to ensure there are no inaccuracies or unauthorized activity. Your credit report and score are the two major methods that creditors and lenders use to make a credit decision about you. Higher scores usually mean lower interest rates, which will save you money.
See All 3 National Credit Scores & 3 Reports Instantly, Online & Free!
| Not at all | Definitely |
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
Common misspellings: mortage and morgage