MGIC Investment Corporation is a holding company and, through its wholly owned subsidiary Mortgage Guaranty Insurance Corporation (MGIC), provides private mortgage insurance in the United States. MGIC is licensed in all 50 states of the United States, the District of Columbia, Puerto Rico and Guam. One of MGIC’s subsidiaries is licensed in Australia and another is in the process of becoming licensed in Canada. In addition to mortgage insurance on first liens, the Company, through its subsidiaries, provides lenders with various underwriting and other services and products related to home mortgage lending. The Company has ownership interests in less than majority owned joint ventures and investments, principally Sherman Financial Group LLC and Credit-Based Asset Servicing and Securitization LLC, which it refers to as C-BASS. Sherman is principally engaged in purchasing and collecting for its own account delinquent consumer receivables.
(Source: 10-K)
