MGIC Highlights Commitment to Innovation with Promotion, New Hire

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Jun 23, 2016, 04:30 ET

MILWAUKEE, June 23, 2016 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), is expanding its capacity to provide customers with innovative mortgage technology solutions and increasing the company's role in the mortgage finance market.

MGIC's customers continue to seek innovative technology based solutions that will increase their efficiency, quality, profitability and transparency with consumers when underwriting low down-payment mortgages. To ensure that MGIC continues to support these efforts and is capable of providing industry leading integrations, the company has promoted Leslie Malicki-Berth to Business Partner Relationship Manager. In her new role, Ms. Malicki-Berth will work with MGIC's customers and mortgage industry technology providers such as loan origination systems, product and pricing engines, and servicing platforms to facilitate seamless integrations that aid lenders and servicers in providing transparency in mortgage insurance pricing, underwriting and servicing while simultaneously achieving their technology related goals.

Ms. Malicki-Berth has more than 25 years of experience in information technology, including 15 years on both the technology and business side of MGIC's operations with continuous involvement with technology partner integrations. This combined technical skill set, business acumen, and familiarity with mortgage industry partners and integrations makes her uniquely qualified for her new position.

"Our customers consistently communicate to us that they prefer to interact with their mortgage insurance providers from within their preferred mortgage technology systems and platforms," explains Sal Miosi, MGIC's Senior Vice President – Business Strategy & Operations. "Leslie and her team will focus on building and maintaining these next generation integrations with an eye toward providing our customers with the best-in-class service they have come to expect from MGIC since 1957."

While continually increasing its ability to meet current customer needs, MGIC is also leveraging its core competency of credit risk management and its market position to pursue new business opportunities that will allow private capital to play a larger role in the future of mortgage finance. These efforts not only complement its existing mortgage insurance business by preserving and expanding the role of private mortgage insurance in the mortgage finance industry, but also could reduce the amount credit risk taken by the Fannie Mae, Freddie Mac and the Federal Housing Administration that is ultimately backstopped by taxpayers. To that end, MGIC has hired Garrett Hartzog as Director – Product Development.

Mr. Hartzog comes to MGIC from the Federal Housing Finance Agency (FHFA) where he served as Senior Policy Analyst. While with the FHFA, Mr. Hartzog was the primary point of contact for matters relating to mortgage insurance. In addition to his time at FHFA, Mr. Hartzog has 12 years of broad based experience in mortgage banking and mortgage insurance.

"Garrett's background and understanding of the mortgage lending and insurance business will be a valuable addition as we pursue new business opportunities that will allow private capital to play a larger role in mortgage finance," continues Mr. Miosi. "He bolsters our capacity to strategically engage customers to mutual opportunities that address the evolving needs for mortgage credit enhancement."

About MGIC

MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality. At March 31, 2016, MGIC had $175.0 billion of primary insurance in force covering approximately one million mortgages.

From time to time MGIC Investment Corporation releases important information via postings on its corporate website without making any other disclosure and intends to continue to do so in the future. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information can be found at http://mtg.mgic.com under Investor Information.

SOURCE MGIC Investment Corporation