MILWAUKEE, Feb. 18, 2020 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC) (NYSE: MTG) and Down Payment Resource® (DPR) today announced their joint launch of Down Payment Connect, a tool that helps loan officers match potential homebuyers to down payment assistance programs in their area.
MGIC, a premier provider of mortgage insurance nationwide partnered with DPR, the leading provider of information on down payment assistance programs since 2008. The result of that partnership is the launch of Down Payment Connect, a subscription-based down payment assistance (DPA) look-up tool that loan officers can use to educate borrowers about programs that may be a fit for their situation. MGIC loan officer customers can use Down Payment Connect to help eligible homebuyers quickly identify assistance programs and boost the affordability of their mortgage.
"For more than 60 years, MGIC has helped families achieve homeownership sooner by making affordable low-down payment mortgages a reality," said Margaret Crowley, MGIC VP Marketing and Customer Experience. "Through Down Payment Connect, our customers now have access to hundreds of down payment programs in a single database to help them grow their customer base and, most importantly, put more families in homes."
"We know the challenge of saving for the down payment is the number one hurdle for first-time homebuyers and many buyers don't know to ask about this type of help. Now more than ever, it's important for buyers to understand and evaluate homeownership programs that may help them buy a home sooner," said Rob Chrane, CEO of Down Payment Resource®. "We are excited to help MGIC loan officer customers connect more buyers to available down payment assistance."
For more information about MGIC's partnership with Down Payment Resource, please visit https://www.mgic.com/DPR.
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality. At December 31, 2019, MGIC had $222.3 billion of primary insurance in force covering approximately one million mortgages.
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About Down Payment Resource®
Down Payment Resource® (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,400 programs in 13 categories. Its award-winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor associations, lenders and housing counselors across the country. DPR's subscription-based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit DownPaymentResource.com and Twitter at @DwnPmtResource.
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SOURCE MGIC Investment Corporation
MGIC Media Contact: Elizabeth Setterfield, (414) 347-4912, email@example.com, or Down Payment Resource Media Contact: Tracey Shell, (404) 317-8922, firstname.lastname@example.org