MGIC Stops Underwriting Non-MI Loans
MGIC has discontinued contract underwriting of uninsured loans. Moving forward and citing market conditions, they have announced that June 1st and beyond they will no longer contract underwrite loans in our Underwriting Service Centers that do not have Mortgage Insurance.
Effective June 1, 2009 MGIC will no longer accept uninsured business in our Underwriting Service Centers. Our Underwriting Service Centers will be available to underwrite your Contract-with-MI and MI-only loans. MGIC’s Contract Underwriting Services for uninsured business will only be available with on-site underwriting at a per-day pricing fee.
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Trace Richardson has written 104 posts on LeadPress Mortgage Websites.
I'm Trace Richardson and am the founder of LeadPress. The LeadPress platform is the most powerful and customizable mortgage lead generation platform available today for brokers and bankers alike. I’m a licensed California Real Estate Broker and a former equities trader previously holding the Series 7, 63, 55 and 24 securities licenses.