Jan. 30, 2013
/PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC) announces a new, streamlined underwriting program for loans with a Fannie Mae Desktop Underwriter
Approve or Freddie Mac Loan Prospector
Under the new underwriting program, named
, MI loans that receive DU Approve or LP Accept responses and meet minimal overlays are automatically eligible for MGIC MI.
"MGIC Go! simplifies the process and fits into our customers' daily operations,"
, MGIC Vice President of Marketing said. "MGIC Go! allows our company to insure quality loans by exercising its own judgment and underwriting criteria, while allowing our customers to take advantage of their existing underwriting processes."
The program, effective immediately, expands MGIC guidelines in certain areas with credit overlays and is available on all submissions options.
MGIC Go! is available to all MGIC customers with an active MGIC Master Policy. Program specifics including complete guidelines, can be found at MGIC's website,
), the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by
primary insurance in force covering 1 million mortgages as of
September 30, 2012
. MGIC serves lenders throughout
the United States
, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.
are registered trademarks of Fannie Mae; Loan Prospector
are registered trademarks of Freddie Mac.
SOURCE MGIC Investment Corporation