# MGIC

> MGIC provides private mortgage insurance that protects lenders against covered mortgage default losses, helping eligible borrowers buy homes with smaller down payments. Founded by Milwaukee attorney Max Karl in 1957, the insurer pairs mortgage credit expertise with MiQ pricing, lender integrations, training and homebuyer resources. Its parent is NYSE-listed MGIC Investment Corporation.

- **Founded:** 1957
- **Headquarters:** Milwaukee, United States
- **Founders:** Max Karl (Founder; Milwaukee real estate attorney)
- **Products:** Private mortgage insurance, MiQ, Choice Monthly, Loan Center, Down Payment Connect
- **Notable:** Founded the modern US private mortgage insurance business in 1957., Company reports helping more than 14 million people attain homeownership since inception., Reported 19.4% share of US private mortgage insurance new insurance written in 2025.

## Products & services

- **Private mortgage insurance** — Insures a portion of covered lender losses on eligible residential mortgage loans; supports low-down-payment financing.
- **MiQ** — Risk-based mortgage insurance quote platform with premium-plan comparisons, LOS access and API integration. Quotes are honored for 90 days.
- **Choice Monthly** — Borrower-paid plan allowing an upfront contribution to reduce the monthly mortgage insurance premium.
- **Loan Center** — Lender portal for ordering mortgage insurance and submitting loan documentation.
- **Down Payment Connect** — Subscription tool launched with Down Payment Resource to match prospective buyers to assistance programs.
- **Readynest** — Consumer website explaining homebuying and preparing first-time buyers for the process.
- **Mortgage professional training** — Webinars, income worksheets and short Magic Minutes videos covering mortgage insurance and lending skills.

## Achievements

- Founded the modern US private mortgage insurance business in 1957.
- Company reports helping more than 14 million people attain homeownership since inception.
- Reported 19.4% share of US private mortgage insurance new insurance written in 2025.
- Parent reported USD 738.3 million net income for 2025.
- Continued writing new insurance through the 2008-2013 financial-crisis period.

## Latest updates

- **2026-10** — October 15 underwriting bulletin says MGIC will continue accepting both UAD 2.6 and UAD 3.6 appraisal formats for mortgage insurance, while lenders remain responsible for investor delivery requirements.
- **2026-07** — July 29 release reports second-quarter parent-company net income of USD 182.1 million, compared with USD 192.5 million a year earlier.
- **2026-06** — USMI named MGIC CEO Tim Mattke chairman of its board on June 12.

## Links

- Website: https://www.mgic.com/
- LinkedIn: https://www.linkedin.com/company/mgic/
- Twitter/X: https://twitter.com/mgic
- YouTube: https://www.youtube.com/user/MGICvideos
- Instagram: https://www.instagram.com/mgic/
- Facebook: https://www.facebook.com/MGICMI

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Profile page: https://yespress.io/mgic
Published by YesPress — https://yespress.io
Last updated: 2026-10-24