MGIC Settles Part of BofA Mortgage Dispute, Agrees to Mediation

MGIC Investment Corp. (MTG), the mortgage insurer whose shares more than doubled this year, said it settled part of a dispute with Bank of America Corp. over loans that it covered.

The accord excludes a disagreement over the curtailment of some coverage, and the parties plan to mediate the dispute and enter arbitration if necessary, Milwaukee-based MGIC 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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.