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COVID-19 updates from MGIC

Working with MGIC through COVID-19.

COVID-19 and your business

Updates regarding how COVID-19 impacts our underwriting and servicing processes will be posted on this page.

Underwriting and Servicing Guidance

As Fannie Mae and Freddie Mac share COVID-19 origination and servicing guidance, we’ll post guidance regarding our implementation here:

Underwriting guidance

Release Date Bulletin, news and effective dates
03/25/2021 Bulletin #05-2021 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (03/25/21)
02/25/2021 Bulletin #03-2021 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (02/25/21)
01/28/2021 Bulletin #01-2021 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (01/28/21)
12/23/2020 Bulletin #18-2020 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (12/23/20)
11/20/2020 Bulletin #15-2020 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (11/20/20)
10/28/2020 Bulletin #14-2020 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (10/28/20)
09/30/2020 Bulletin #13-2020 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (09/30/20)
09/11/2020 Bulletin #12-2020 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (09/11/20)
07/20/2020 Bulletin #11-2020 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (07/20/20)
06/22/2020 Bulletin #09-2020 Announces continued alignment with recent GSE COVID-19 temporary underwriting flexibilities (06/22/20)
06/10/2020 Bulletin #08-2020 Announces temporary underwriting flexibilities for borrowers with existing mortgage loans (06/10/20)
05/06/2020 Bulletin #07-2020 Announces continued alignment with the GSEs’ policies related to COVID-19 (05/06/20)
04/27/2020 Bulletin #06-2020 Announces allowing coverage to be activated on loans already in COVID-19 forbearance (04/27/20)
04/16/2020 Bulletin #05-2020 Announces alignment with the GSE's condo project and additional appraisal flexibilities (04/16/20)
04/07/2020 Bulletin #04-2020 Announces temporary suspension of insuring investment properties and cash-out refinances (05/11/20)
03/31/2020 Bulletin #03-2020 Announces alignment with the GSEs’ underwriting policies related to COVID-19 (03/31/20)
03/24/2020 Bulletin #02-2020 Announces alignment with Agencies' temporary flexibilities due to COVID-19 (03/24/20)

Servicing guidance

Release Date Bulletin, news and effective dates
04/05/2021 Bulletin #07-2021 announces updates to the MILAR and Payment Deferral Reporting templates
03/09/2021 Bulletin #05-2021 affirms our alignment to the GSE extension of the foreclosure moratorium to June 30, 2021 and extensions of the COVID-19 payment deferral and forbearance plans
02/18/2021 Bulletin #03-2021 affirms our alignment to the GSE extension of the foreclosure moratorium to March 31, 2021 and extensions of the COVID-19 payment deferral and forbearance plans
02/04/2021 Bulletin #01-2021 affirms our alignment to the GSE extension of the foreclosure moratorium to February 28, 2021
12/16/2020 Bulletin #07-2020 affirms our alignment to the GSE extension of the foreclosure moratorium to January 31, 2021 and provides updates regarding rescission relief and loans in a COVID-19 forbearance plan
09/02/2020 Bulletin #06-2020 affirms our alignment to the GSE extension of the foreclosure moratorium to December 31, 2020 and reminds servicers of MGIC's disaster relief policies
08/17/2020 Bulletin #05-2020 updates regarding rescission relief and the payment deferral program
07/02/2020 Bulletin #04-2020 affirms our alignment to the GSE extension of the foreclosure moratorium to August 31, 2020
05/18/2020 Bulletin #03-2020 affirms our alignment to the GSE extension of the foreclosure moratorium to June 30, 2020
05/01/2020 Bulletin #02-2020 updates guidance regarding Rescission Relief and loans in a COVID-19 forbearance plan
04/21/2020 Bulletin #01-2020 provides Deferred Payment Delegation and updates default reporting requirements for Servicers in response to COVID-19
03/26/2020 News #02-2020 updates Borrower Workout and Eviction/Foreclosure Moratorium guidance for Servicers in response to COVID-19

We are aware that mortgage Servicers who are supporting borrowers impacted by COVID-19 may have questions regarding our policies on default reporting and borrower workout programs. To help you, we created this quick reference Q&A for Servicers. You can also tune in to a recording of our Top 5 Things You Need to Know About Default Servicing MI-Insured Loans Today webinar.

Our COVID-19 plan

At MGIC, we have a Crisis Management Team and a Pandemic Plan to help prepare us for these types of events. 

As part of our plan, we closely monitor communications from the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and other health organizations, as well as local and federal government agencies, to help us respond properly. Our goal is to be conservative and well-prepared when it comes to the health and safety of our employees and customers. With this in mind, we are temporarily suspending all in-person sales calls and conference participation. Should we make additional adjustments to our operations that may impact you, we will let you know.

This is a time of uncertainty for all of us, but you can be certain that our dedication to you and your business remains unchanged. When you need quick answers, contact Customer Service (1-800-424-6442) or your Account Manager. Even though our sales team won’t be able to meet face-to-face, they stand ready to assist you with your mortgage insurance needs. Call, text or email. We are here for you.

Thank you for doing business with MGIC.

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