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MGIC Loan Servicing Guide

Our MGIC Loan Servicing Guide provides clarity, transparency and detailed information on all of our most current guidelines.

MGIC Servicing Guide sections

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Full MGIC Servicing Guide (08/31/16)

Section 1, Mortgage Insurance Premium

1.01 Premium Plans

1.02 Premium Due to Activate Coverage

1.03 Renewal Premium Billing

1.04 Billing Cycles

1.05 Billing Options

1.06 Premium Payment Options

1.07 Premium Guidelines for Loans in Default

Section 2, Cancellations

2.01 Cancelling Mortgage Insurance Coverage

2.02 Cancellation Covered Under the Homeowners Protection Act (HPA)

2.03 Cancellation not Covered Under the Homeowners Protection Act (HPA)

2.04 Premium Refund Guidelines

Section 3, Reinstatements

3.01 Reinstatement Requests

3.02 Reinstatement Exception

Section 4, Certificate Changes

Section 5, Servicing Transfers

Section 6, Assumptions

6.01 Assumptions With Release of Liability

6.02 Assumptions Without Release of Liability

Section 7, Partial Releases

Section 8, Loan Status & Activity Report

8.01 Servicing Report

8.02 Default Reporting

8.03 Mortgage Payment Record Retention

Section 9, Loan Modifications

9.01 Modification Guidelines for Current Loans

9.02 Modification for Delinquent Loans

9.03 Reporting and Approval Requests for Modifications

Section 10, Loss Mitigation

10.01 Collections and Borrower Contact

10.02 Foreclosure Sale Postponement

10.03 Forbearance Plan

10.04 Repayment Plan

10.05 Short Sale and Deed in Lieu of Foreclosure

Section 11, Foreclosure

11.01 Foreclosure Commencement

11.02 Bankruptcy

11.03 Preserving our Deficiency Rights

11.04 Foreclosure Bidding

11.05 Foreclosure Completion

Section 12, Claim

12.01 Claim Requirements

12.02 Claim Filing

12.03 Claim Documentation Requirements

12.04 Claim Perfection

12.05 Claim Calculation and Curtailment Methodology

12.06 Claim Settlement

12.07 Supplemental Claim

Section 13, Real Estate Owned (REO) Property Sales & Election of Acquisition Option

13.01 Property Disposition for Primary Coverage

13.02 Election of Acquisition Option for Primary Coverage

13.03 Property Disposition for Pool or Second Layer Coverage

Section 14, Credible Evidence

Section 15, Appeals

Section 16, US Treasury & GSE-Sponsored Programs

Section 17, Exhibits

17.01 Claim Form

17.02 Claim Settlement Examples

Section 18, Servicing Tools

18.01 MGIC/Link Servicing

18.02 Secure File Transfer (SFT)

18.03 Automated Default Reporting (ADR)

18.04 Electronic Funds Transfer (EFT)/ACH

18.05 Electronic Data Interface (EDI)