MGIC Picked To Insure Wisconsin Bonds

Mortgage Guaranty Insurance Corp., Milwaukee, has been selected by the Wisconsin Housing and Economic Development Authority to provide pool mortgage insurance for all single-family bonds the agency issues over the next five years.WHEDA has projected that the five-year volume of mortgages to be covered by MGIC will reach $1 billion. Curt S. Culver, president and chief operating officer of MGIC, said that in addition to the pool coverage the company will provide technical support and share its underwriting and risk management expertise with WHEDA. One highlight of the agreement is that WHEDA will finance at least 100 new modular homes in Milwaukee in a planned pilot program. MGIC will provide primary as well as pool insurance for the modular home loans. MGIC's website address is http://www.mgic.com.