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COVID-19 updates from MGIC

Working with MGIC through COVID-19.

COVID-19 and your business

Updates regarding how COVID-19 impacts our underwriting and servicing processes will be posted on this page.

Underwriting and Servicing Guidance

As Fannie Mae and Freddie Mac share COVID-19 origination and servicing guidance, we’ll post guidance regarding our implementation here:

Servicing guidance

Release Date Bulletin, news and effective dates
 07/02/2020  Bulletin #04-2020 updates guidance for Servicers in response to COVID-19
05/18/2020 Bulletin #03-2020 updates guidance for Servicers in response to COVID-19
05/01/2020 Bulletin #02-2020 updates guidance for Servicers in response to COVID-19 (05/01/20)
04/21/2020 Bulletin #01-2020 updates guidance for Servicers in response to COVID-19 (04/21/20)
03/26/2020 News #02-2020 updates guidance for Servicers in response to the Coronavirus (03/26/20)

We are aware that mortgage Servicers who are supporting borrowers impacted by COVID-19 may have questions regarding our policies on default reporting and borrower workout programs. To help you, we created this quick reference Q&A for Servicers. You can also tune in to a recording of our Top 5 Things You Need to Know About Default Servicing MI-Insured Loans Today webinar.

Our COVID-19 plan

At MGIC, we have a Crisis Management Team and a Pandemic Plan to help prepare us for these types of events. 

As part of our plan, we closely monitor communications from the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and other health organizations, as well as local and federal government agencies, to help us respond properly. Our goal is to be conservative and well-prepared when it comes to the health and safety of our employees and customers. With this in mind, we are temporarily suspending all in-person sales calls and conference participation. Should we make additional adjustments to our operations that may impact you, we will let you know.

This is a time of uncertainty for all of us, but you can be certain that our dedication to you and your business remains unchanged. When you need quick answers, contact Customer Service (1-800-424-6442) or your Account Manager. Even though our sales team won’t be able to meet face-to-face, they stand ready to assist you with your mortgage insurance needs. Call, text or email. We are here for you.

Thank you for doing business with MGIC.

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