MGIC Announces Partnership with Vesta

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Dec 08, 2022, 16:00 ET

MGIC MI Rate Quotes and MI Ordering Now Available Through Vesta LOS

MILWAUKEE, Wis., Dec. 8, 2022 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), announced today that it is integrated with Vesta, a modern mortgage loan origination system (LOS) and software-as-a-service company. With this partnership, lenders using the Vesta platform will be able to seamlessly, and in real time, request quotes and order private mortgage insurance (MI) from MGIC without leaving the Vesta LOS.

"Small operational efficiencies can quickly add up to create notable time and cost savings, critical focuses for any lender in today's environment. We're excited to work with MGIC to deliver a straightforward and modern quoting and ordering experience," said Mike Yu, Vesta CEO.

"At MGIC, we understand that our customers benefit from having mortgage insurance readily available when and where they need it," said Leslie Bensen, Director, Partner Solutions at MGIC. "We are thrilled to offer MGIC's customers access to our MI products through Vesta LOS."

About MGIC (NYSE:MTG)

Mortgage Guaranty Insurance Corporation ("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 through the use of private mortgage insurance.

From time to time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website and it intends to continue to do so in the future. Such postings include corrections of previous disclosures and may be made without any other disclosure. 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 for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For information about our underwriting and rates, see https://www.mgic.com/underwriting.

About Vesta

Vesta is a SaaS provider of mortgage loan origination software. The platform provides lenders with a modern system of record, customizable workflows for end to end mortgage loan fulfillment process, and open, cloud-based APIs. The company was founded in 2020 by early Blend employees Mike Yu and Devon Yang. Investors backing Vesta include: Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures and Zigg Capital. For more information, visit: www.usevesta.com, or Vesta's LinkedIn.

SOURCE MGIC Investment Corporation