MGIC Wins Concessions from Freddie Mac As It Works to Resolve Dispute with the GSE
October 4, 2012
MGIC Investment announced late last week that it won certain concessions from Freddie Mac and the two are working to resolve a dispute regarding mortgage insurance pool pricing by the end of this month. Freddie cut a required capital contribution by MGIC Investment in half and allowed a significant expansion of the number of areas in which an MGIC subsidiary can write new business. I am pleased with the spirit of cooperation all parties have shown in moving forward to reach this point, said Curt Culver, chairman and CEO of MGIC Investment and Mortgage Guaranty Insurance Corp. While there can be no guaranty that the open matters that remain can be successfully resolved, I am hopeful we will continue to make progress. In May, MGIC filed...