MGIC Acquires Myers Internet

Mortgage Guaranty Insurance Corp., Milwaukee, has announced the acquisition of Myers Internet Inc., a San Jose, Calif.-based provider of Web-based point-of-sale systems for mortgage originators and real estate agents.The terms of the deal were not disclosed. MGIC said the Myers platform augments MGIC's eMagic portal, which offers originators, lenders, and vendors access to automated underwriting decisions, mortgage insurance, contract services, rate locks, and other services. "Myers is the top provider of websites for mortgage brokers in the mortgage industry and has made strong inroads with real estate agents," said Curt S. Culver, chairman, president, and chief executive officer of MGIC and its parent company, MGIC Investment Corp. "By acquiring Myers, MGIC can bring further efficiencies to mortgage lending." Myers will be a wholly owned subsidiary of MGIC, and will be called Myers Internet -- a MGIC company. The companies can be found on the Web at http://www.mgic.com and http://www.myers.com.