MGIC Investment Corp (MTG) Earnings

MGIC Investment Corp. is a holding company, which engages in the provision of mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The company is headquartered in Milwaukee, Wisconsin and currently employs 555 full-time employees. The firm provides private mortgage insurance, other mortgage credit risk management solutions and ancillary services. Its mortgage insurance includes primary insurance, and CRT and pool insurance. Primary insurance provides mortgage default protection on individual loans and covers a percentage of the unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure on the mortgage or sale of the underlying property. In connection with the GSEs' credit risk transfer programs, it provides insurance and reinsurance covering portions of the credit risk related to certain reference pools of mortgages acquired by the GSEs. Its non-insurance subsidiary provides contract underwriting services for lenders, pursuant to which loans are underwritten to conform to prescribed guidelines.