Articles Tagged with ''MGIC''

New risk-based pricing engine MiQ was built to improve the customer experience

MGIC delivers quick, mobile-responsive solution
MGIC's Jay Hughes and Margaret Crowley discuss the benefits of risk-based MI pricing models, which deliver customized rates for each unique loan scenario. "MiQ was developed after listening to our customers talk about friction in their process and the need for work efficiency. While they are certainly looking for competitive MI rates, they’re also looking for a pricing engine that’s easy to use and seamlessly integrates into their existing processes."  
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Mortgage insurance companies report surge in Q2 earnings

Recent changes seem to work well for business
Mortgage insurance companies have had a busy year with many unprecedented changes, and the most recent earnings report shows those changes are paying off. This year, MI companies upped their game, growing more competitive against the FHA and one company even saw a record high in new insurance written.
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MGIC announces partnership with Down Payment Resource

Companies aim to connect more eligible buyers to down payment assistance
On Monday, Mortgage Guaranty Insurance Corporation announced a new partnership with Down Payment Resource, a down payment assistance resource provider for homebuyers and professionals. Through the partnership, customers of MGIC will have access to discounted Down Payment Resource services that make it easier for lenders to research down payment assistance programs and match borrowers to eligible programs.
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Mortgage insurance companies push back against 50% DTI

Increase credit score requirements
Last year, the GSEs announced they were increasing their debt-to-income ratio to 50%, a move that mortgage insurance companies are starting to fight back against. "We are concerned with the recent increase of loans that have debt-to-income ratios exceeding 45%, particularly when combined with weaker credit profiles," one MI company explained.
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