1 minute readMortgage Guaranty Insurance Corp. (MGIC) on Monday revealed plans to delay its first capital infusion into MGIC Indemnity Corp. (MIC), which is slated to begin writing new mortgage insurance business as of Jan. 1, 2010. MGIC said the Office of the Commissioner of Insurance of Wisconsin approved the delay as the company attempts to have MIC approved as an eligible mortgage insurer by mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE). It also said it will likely reduce the amount planned for the MIC capital contribution. () MGIC originally planned to contribute $1bn to MIC in two $500m installments with the first arriving by July 31 and the second coming in 2011. It announced the formation of MIC after posting a $339.8m loss for Q209. Fitch Ratings downgraded the insurer financial strength to triple-B minus from triple-B after the loss. The ratings agency noted, however, that a capital restructuring and the formation of MIC would allow MGIC to continue to operate in the midst of increasing mortgage delinquencies. Write to Diana Golobay.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
RE/MAX accelerates real estate innovation with AI and technology
RE/MAX is accelerating the integration of AI and cutting-edge technology to transform how agents engage with clients, generate leads, and deliver results. Initiatives like Max AI, MaxRefer, MaxEngage, and HomeView leverage real-time data, personalized marketing, and AI-driven tools to streamline the homeownership experience and empower its agents. Leading this innovation is Travis Saxton, EVP of Strategy at RE/MAX, who has spearheaded the rollout of these technologies, including AI-powered training through Sky AI and SkyStudio, redefining the future of real estate by combining human connection with next-generation tools.
Nov 17, 2025 3:44 am
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
