MGIC Investment Corporation

MGIC Investment Corporation provides private mortgage insurance, which protects lenders if a borrower stops paying their mortgage. When homebuyers put down less than 20 percent on a home purchase, lenders require this insurance to cover their losses if the borrower defaults. MGIC sells this insurance to banks, mortgage brokers, credit unions, and other lenders throughout the United States and U.S. territories. The company also offers related services like underwriting and reinsurance.