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MGIC Pulling Back Dramatically on Mortgage Insurance in 19 States 

Feb 08, 2008By

MGIC Investment Corp. said earlier this week that its mortgage insurance arm will pull back dramatically on underwriting new mortgage insurance in housing markets spanning 19 different states. In a policy update sent to customers February 6, MGIC vice president Sal Miosi announced a host of program changes effective March 3, designed to help the mortgage insurer weather what he called “challenging times.”