Overview
MGIC Investment Corp., a holding company, is a mortgage insurer based in Milwaukee. In addition to mortgage insurance on first liens, the company provides lenders with underwriting and other services and products related to home-mortgage lending. Its subsidiary, Mortgage Guaranty Insurance Corp., provides private mortgage insurance in the U.S. Joint ventures include Credit-Based Asset Servicing and Securitization LLC C-BASS and Sherman Financial Group LLC.
Claims have skyrocketed over the past year and the company has sought to shore up its finances. Meantime, the company, along with some of its competitors, has suffered ratings-agency downgrades.