MGIC Backs NeighborWorks Program

Mortgage Guaranty Insurance Corp., Milwaukee, has announced financial support for Neighborhood Reinvestment Corp.'s national homeownership education and counseling initiative, NeighborWorks Center for Homeownership Education and Counseling.While not citing a dollar figure, MGIC said it will provide scholarships for 150 families of modest means to attend homeownership education courses at NeighborWorks Training Institutes over the next three years. NCHEC's efforts have resulted in a one-third reduction of delinquent payments at the 90-day mark for its participants, MGIC reported. "Our support of NCHEC further enhances our SmartPath program, which provides consumers lower MI premiums when they receive pre-purchase face-to-face counseling and education," said Geoffrey Cooper, MGIC's director of emerging markets. MGIC, the principal subsidiary of MGIC Investment Corp., can be found online at http://www.mgic.com.