Patrick Sinks is taking the reins at MGIC Investment Corp. at a pivotal moment, as the mortgage insurer faces tougher capital standards and a more competitive field where his company is no longer No. 1.

The survival of the private mortgage insurance industry is no longer in doubt, as it was in the aftermath of the housing crash. Growth remains a challenge, however, with the secondary market giants Fannie Mae and Freddie Mac and their regulator seeking higher capital requirements for the insurers.

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Authoritative analysis and perspective for every segment of the mortgage industry