Mortgage Guaranty Insurance Corporation · Milwaukee, WI United States
Company Description
Phone: 800-558-9900
Fax: 888-601-4440
Toll Free: 800-558-9900
View Mortgage Guaranty Insurance Corporation Locations On A US Map
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This link will open in a new window Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation , provides private mortgage insurance to home mortgage lenders throughout the US. It offers primary coverage (which allows customers to buy a home with a down payment of less than 20%, protecting lenders against borrower default) and pool insurance (covering losses exceeding claim payments on primary insurance). MGIC is the largest private mortgage insurance provider based on new primary business written, with more than 20% of the market share. The company is licensed in all states, the District of Columbia, and Puerto Rico. To read the full description, subscribe now.
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Key Mortgage Guaranty Insurance Corporation Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 1,127 |
Mortgage Guaranty Insurance Corporation Executives
18 executives listed for Mortgage Guaranty Insurance Corporation's Milwaukee, WI location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Curt Culver | Network |
| President and COO | Patrick Sinks | Network |
| EVP and CFO | J. Michael Lauer | Network |
Competition
Competitive Landscape for Mortgage Guaranty Insurance Corporation
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Mortgage Guaranty Insurance Corporation Competitors
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