MGIC Investment Corp., the mortgage insurer that breached regulators’ capital limits, surged to a two-month high after saying hurdles to selling new policies had been lowered.
The amount of capital MGIC needs to contribute to its main mortgage-insurance subsidiary was cut by half to $100 million, the company said in a Sept. 28 statement. An underwriting arm was approved by Freddie Mac to sell coverage in 16 jurisdictions excluding Wisconsin, pending resolution of a dispute between MGIC and the government housing-finance body, MGIC said.
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