MGIC

Your opportunity

Participate in a group mortgage reinsurance program that comprises high-LTV, high-quality loans originated by ICBA members:

• Become a part-owner in ICBA Reinsurance Company.
  
  
• Share a portion of the risk on mortgages protected with MGIC borrower-paid MI.
  
  
• Become eligible to receive dividends paid by the program.
  
  

To become a part-owner of ICBA Reinsurance Company, you must:

• be an MGIC Master Policyholder and
  
  
• purchase one share of ICBA Reinsurance Company stock at a purchase price of $1,750.
  
  

Your rewards

For each loan insured with MGIC borrower-paid premiums, MGIC contributes 20.5% of the premium amount to the program. Funds are held in trust and disbursed as an annual dividendto participating members.

No extra costs for your customers

MI mortgage insurance premiums for this program are the same as standard MGIC borrower-paid monthly premium rates. There are no extra costs. As a program participant, you must:

• disclose to borrowers that their loans may be reinsuredunder a risk-sharing agreement and
  
  
• provide them with the opportunity to “opt out.” Loans to borrowers who opt out will not be included in the program.
  
  

Your dividend potential

To learn more about your dividend potential and program details,contact MGIC Representative Skip Leonhard, (412) 491-8588 or skip_leonhard@mgic.com; or ICBA Mortgage Representative Ron Haynie, 1-800-253-5356 or ron.haynie@ICBA.org.