MGIC Investment

Finance & Insurance

MGIC Investment Careers, Pay and Expert Network

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Mortgage Guaranty Insurance Corporation (a subsidiary of MGIC Investment Corporation) NYSE: MTG is a provider of private mortgage insurance in the United States. In addition to mortgage insurance, MGIC provides lenders with various underwriting and other services and products related to home mortgage lending. The company is based in Milwaukee, Wisconsin, where it was founded in 1957 by Max H. Karl. He was a real estate attorney who noticed that his clients had trouble with paying for their new homes, and found that obtaining government-backed loan financing was difficult to obtain. Karl believed that there was a need for a company that could insure the top part of the mortgage rather than all of it. He secured $250,000 from investors, including friends and business associates, to open the new company. On August 8, 2007 Mortgage Guaranty Insurance Corporation (MGIC, Milwaukee, Wisconsin) announces it will discontinue its purchase of Radian Group after suffering a billion-dollar loss of its investment in Credit-Based Asset Servicing and Securitization (C-BASS, New York]). Since 2006, MGIC stock has fallen more than 94%.

Snapshot

Employees724
Market Cap$2.8 billion
Revenue$1.1 billion
5 Year Trend+4.9%
Net Income$596.8 million
NYSEMTG
Founded1957
Annual Report
Total value of jobs:
$1,070,000
Total Jobs:
8
Average Pay:
$133,750
Total Experts:
3
% Masters:
23%

Top Experts at MGIC Investment

MGIC Investment Salaries

Chief Information Security Officer (CISO)

$90K

$90K

Average Salary:$90,000

Director of Development

$150K

$225K

Average Salary:$187,500

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