Emerging Markets

Housing Finance Agencies | GSE Programs | Borrower Resources |
Anti-Predatory Lending Policy

Housing Finance Agencies

MGIC works closely with state and local Housing Finance Agencies (HFAs) and supports these mission-driven mortgage investors with homebuyer education and certification programs.

GSE Emerging Market Programs

We also participate in and support Fannie Mae’s MyCommunityMortgage® and Freddie Mac’s Home Possible®, special loan-purchase programs that target lower-income borrowers and/or borrowers living in areas where most households are minority or earn less than 80% of area median income.

Loans the GSEs purchase under these specialized programs are eligible for MGIC mortgage insurance. See MCM & Home Possible coverage requirements.

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Resources for Borrowers

To help prepare first-time homebuyers for the responsibility of homeownership, we offer:

• Buyers Ed
  • online homebuyer and landlord education
  • provided by MGIC at no charge to you or your customers
  • accepted by Fannie Mae and Freddie Mac
  • details and registration
• www.buywithmi.com
  • online help for borrowers preparing to buy a home
  • options for buying a home using private mortgage insurance
  • tips on home maintenance and maintaining homeownership
• Get Ready newsletter series
  • Budgeting
  • The importance of credit
  • Protecting your identity
  • Understanding your credit report

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Anti-Predatory Lending Policy

Predatory mortgage lending, often targeting emerging market communities, drains wealth from families and communities, destroys the benefits of homeownership and often leads to foreclosure.

MGIC will treat this type of business as ineligible for MGIC mortgage insurance. See our Anti-Predatory Lending Policy.

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