Mortgage insurer MGIC Investment Corp said it would pay Freddie Mac $267.5 million to settle a dispute that had threatened to stop it from writing new insurance throughout the United States.
MGIC Investment Corp, one of the largest U.S. mortgage insurers, is caught between a weak housing market and a very big customer, raising questions about the future of the money-losing company that writes 20 percent of private mortgage guarantees.
MGIC Investment Corp, one of the largest U.S. mortgage insurers, is caught between a weak housing market and a very big customer, raising questions about the future of the money-losing company that writes 20 percent of private mortgage guarantees.
Mortgage insurer MGIC Investment Corp has sued mortgage financier Freddie Mac and the Federal Housing Finance Administration to settle a dispute over coverage limits on certain insurance policies.
WASHINGTON--The financial troubles that mortgage finance company Freddie Mac revealed yesterday have been caused in part by the shaky condition of monoline mortgage insurer Financial Guaranty Insurance