Founded in 1957, Mortgage Guaranty Insurance Corporation (MGIC) is the originator of the modern private mortgage insurance industry. The company's primary business is to provide mortgage credit enhancement products and services to lenders and mortgage investors. This insurance protects lenders and investors from losses due to borrower default on residential mortgages, which facilitates homeownership by enabling individuals to purchase homes with lower down payments. MGIC is a subsidiary of MGIC Investment Corporation, which is publicly traded on the New York Stock Exchange (NYSE: MTG).

Founded in

United States