MGIC Says It Will Pay $267.5 Million Under Freddie Mac Loan Deal

MGIC Investment Corp. (MTG), the mortgage insurer that breached regulators’ capital limits, said it will pay $267.5 million to Freddie Mac under a preliminary deal to resolve a dispute over coverage on pools of loans.

MGIC will pay $100 million upon completion of the settlement and the remaining $167.5 million in 48 monthly installments, the Milwaukee-based insurer said today in a regulatory filing.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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