MGIC Inks Pact With ICBA

Mortgage Guaranty Insurance Corp., Milwaukee, has entered into an agreement with the Independent Community Bankers of America to offer a group of products and services to the trade group.As part of the agreement, ICBA members can take part in a captive reinsurance program with MGIC. Other services to be offered include contract underwriting, homebuyer education, training seminars, and a customer retention program. ICBA chairman C. R. Cloutier said the captive "builds on the strengths of ICBA's member banks -- a focus on quality borrowers combined with geographic dispersion. The earnings potential of the group captive will encourage member banks to expand their mortgage lending activities."