MGIC Investment Corp

mgic.com

MGIC Investment Corp (NYSE: MTG) is a private mortgage insurance company that provides mortgage guaranty insurance to lenders on residential mortgage loans. It makes money by collecting premiums from borrowers or lenders on insured mortgage policies, covering losses when borrowers default on loans with low down payments. MGIC is the operating subsidiary of MGIC Investment Corporation, headquartered in Milwaukee, Wisconsin. The company operates in the private mortgage insurance (PMI) market, which serves lenders originating residential mortgages where the borrower's down payment is below 20% of the home's value. Key demand drivers include home purchase volume, refinancing activity, and the credit risk transfer programs run by government-sponsored enterprises. The business is regulated under PMIERs (Private Mortgage Insurer Eligibility Requirements), which govern the minimum capital lenders must hold as Available Assets to remain eligible insurers. Products include both borrower-paid mortgage insurance (BPMI) and credit risk transfer structures. The 10-K is filed for the fiscal year ended 2025, as reported February 25, 2026.