Product Descriptions
Mortgage Insurance
MGIC provides private mortgage insurance, as well as risk management products and services, to mortgage lenders. Mortgage insurance serves several important purposes: protecting lenders from default-related losses on residential first mortgages, facilitating the sale of low-down-payment mortgages in the secondary market and helping consumers achieve homeownership sooner.
Lenders generally require mortgage insurance on low-down-payment loans because experience and research show that a borrower with less than 20 percent invested in a home is more likely to default on a mortgage. The advent of mortgage insurance has meant that borrowers with little down payment can enjoy the benefits of owning a home.
Mortgage Services
MGIC offers additional products and services to the mortgage industry, ranging from lead generation tools, and training and education to websites for loan originators and real estate agents via Myers, and a loan processing platform in eMagic.
Our commitment to customer service has prompted us to fill needs in the mortgage industry. Those efforts have resulted in valuable programs and services that have taken on a life of their own and become integral parts of our business.