MGIC is the largest U.S. mortgage insurer, meaning they pay lenders when homeowners default on loans and when foreclosures do not gain the intended financial outcome. MGIC had put $200 million into a subsidiary in hopes of continuing their underwriting business proceeding their 90 percent drop at the end of 2006.
Since their capital expenditure, MGIC has dropped 6.2 percent and is anticipating a heavy decline in the future, therefore; MGIC is in discussion with Fannie Mae and the State of Wisconsin regarding their waiver expiration.
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