MGIC
MGIC provides private mortgage insurance to lenders in the United States and Puerto Rico, enabling affordable, low-down-payment home financing options.
MGIC, or Mortgage Guaranty Insurance Corporation, is a provider of private mortgage insurance (PMI) in the United States and Puerto Rico. The company's insurance is offered to lenders, enabling them to provide home financing options that require lower down payments. This product is central to expanding access to homeownership by mitigating lender risk on high loan-to-value mortgages.
Founded in 1957, MGIC has a long-standing history in the mortgage insurance industry. The company operates within the Mortgage Insurance and Home Financing verticals. Its stated mission involves supporting lenders and their communities through its services and a team described as dedicated professionals working to help communities flourish.
The company's core business is providing this specific insurance product to lenders. This focus allows it to serve as a key enabler in the housing finance ecosystem, facilitating transactions that might not otherwise occur due to the down payment requirements of conventional lending.