MGIC Announces A Streamlined Underwriting Program
MILWAUKEE, Jan. 30, 2013
MILWAUKEE, Jan. 30, 2013 /PRNewswire/ --Mortgage Guaranty Insurance
Corporation (MGIC) announces a new, streamlined underwriting program for loans
with a Fannie Mae Desktop Underwriter^® Approve or Freddie Mac Loan
Prospector^® Accept response.
Under the new underwriting program, named MGIC Go!, MI loans that receive DU
Approve or LP Accept responses and meet minimal overlays are automatically
eligible for MGIC MI.
"MGIC Go! simplifies the process and fits into our customers' daily
operations," Sal Miosi, MGIC Vice President of Marketing said. "MGIC Go!
allows our company to insure quality loans by exercising its own judgment and
underwriting criteria, while allowing our customers to take advantage of their
existing underwriting processes."
The program, effective immediately, expands MGIC guidelines in certain areas
with credit overlays and is available on all submissions options.
MGIC Go! is available to all MGIC customers with an active MGIC Master Policy.
Program specifics including complete guidelines, can be found at MGIC's
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation,
is the nation's largest private mortgage insurer as measured by $164.9 billion
primary insurance in force covering 1 million mortgages as of September 30,
2012. MGIC serves lenders throughout the United States, Puerto Rico, and other
locations helping families achieve homeownership sooner by making affordable
low-down-payment mortgages a reality.
Desktop Underwriter^® and DU^® are registered trademarks of Fannie Mae; Loan
Prospector^® and LP^® are registered trademarks of Freddie Mac.
SOURCE MGIC Investment Corporation
Contact: Katie Monfre, +1-414-347-2650, email@example.com
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