“In addition to the opportunity to be part of the most important purchase in anyone’s lifetime,” Hughes is passionate about lessons learned. “We’ve all learned a lot of valuable lessons in the aftermath of the real estate crash,” he said.

 “We currently have tremendous pent-up demand for housing. Regulatory challenges should be reduced over time, and roles will become better-defined. Millennials will be buying homes, and there will be an array of options for them to choose from.”

For Crowley, “Getting the company back to profitability was job one. And now, while homeownership rates are at a historic low, all the surveys support the fact that homeownership is still a goal for most people. We’re excited about helping those on the sidelines become homeowners.”

Miosi is excited to watch the dynamics play out. “As we grow the company, we continue to embrace promoting from within — giving co-workers the opportunity to raise their hands, to take chances. That’s vital to our success.

“At the same time, the best person for the job may not be at MGIC right now. Pat’s leadership team is a good mix of old and new. You get fresh perspective from new co-workers. Long-time co-workers provide perspective of why we do things the way we do. Then you weave a new approach,” he said.

“That’s a valuable balance for our customers — a healthy mix that we can bring to the table.

“Bringing in new blood changes things up. It’s happening here. People are walking a little faster, talking a little faster. It’s a more energized environment,” he said.


The trio looks to draw on their experience to move the company ahead.

“Our team has been through boom and bust cycles, so we don’t get too excited about any one wave or any one dip,” Crowley said. “Our collective experience helps us be rational about market changes and see the long-term vision — the forest for the trees — as we develop new products,” she said.

Miosi said, “As little as five years ago, the big question was ‘will you be able to play a role?’ Today, it’s ‘how broad of a role can you play?’ There’s a desire and a need for more private capital in lending to shield taxpayers,” he explained.

“We’ve paid $13 billion in claims. We kept insuring loans through the crash. That we survived demonstrates we can play a broader role. We’re pretty bullish on that,” he said.

Hughes wrapped it all up: “Pat is a big believer in challenging the status quo, in staying ahead of the curve. Sal and his team are putting together products and ideas that touch on consumer-buying motives, market differences, customer efficiency and new credit enhancement ideas.

“Our team’s experience, gained from the lessons learned over five-plus decades and the new perspective of selected outside talent,” Hughes said, “puts us in a great position to help lead MGIC and the MI industry into the next era.”