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Privacy Notice

MGIC Investment Corporation, through its subsidiaries, including Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, MGIC Assurance Corporation, MGIC Credit Assurance Corporation, and MGIC Investor Services Corporation (collectively, the "MGIC Companies"), provides mortgage guaranty insurance and other products and services to mortgage lenders, investors and loan servicers.

Collection of Consumer Information

In the course of providing products and services to your company, you may provide us with confidential information about your company and we may independently obtain or receive from your company, lenders, loan brokers, correspondents, consumer reporting agencies and other unaffiliated third parties certain personal and financial information concerning loan applicants and borrowers, including nonpublic personal information, as such term is defined in Title V of the Gramm-Leach-Bliley Act and regulations promulgated pursuant to that Act, and customer information, as defined in the Interagency Guidelines Establishing Standards for Safeguarding Customer Information adopted jointly by the FDIC, FRB, OCC and OTS (collectively, "confidential information"). Information about consumers collected by the MGIC Companies includes loan application information, transaction information, such as payment history data, credit information and information related to property owned by consumers.

Use and Disclosure of Consumer Information

It is the policy of the MGIC Companies to comply with all laws and regulations concerning use and disclosure of confidential information, including the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Gramm-Leach-Bliley Act and related regulations, as the foregoing apply to the MGIC Companies.

The MGIC Companies limit disclosure of confidential information to their affiliates, their respective clients and to other unaffiliated third parties as necessary to effect, administer or enforce mortgage insurance and other services performed on behalf of our clients at their request. In addition, information may be disclosed pursuant to a court order, subpoena or other administrative or legal proceeding or to comply with applicable state or federal law. Use of confidential information is restricted to the purposes for which such information is provided and as permitted by applicable law.

In the case of insurance, the MGIC Companies disclose confidential information in connection with insurance underwriting, account administration, reinsurance transactions, reporting, investigating or preventing fraud or material misrepresentation, processing premium payments, processing insurance claims, administering insurance benefits, participating in research projects, or as otherwise required or specifically permitted by federal or state law. Disclosure is limited to the insured lender, its successors and assigns, credit reporting agencies, reinsurance companies and third parties performing investigative or administrative services on behalf of the MGIC Companies.

In the case of non-insurance services, the MGIC Companies disclose confidential information to their respective clients and to such other unaffiliated third parties to whom disclosure is requested or authorized by such clients. Contracts for non-insurance services typically include provisions requiring the MGIC Companies to maintain confidentiality of information.

Consultants, subcontractors or other unaffiliated third parties who are given access to confidential information in connection with services performed for the MGIC Companies are generally required to sign confidentiality agreements restricting use and disclosure of such information to the persons who have a need to know the information in connection with the consulting assignment or service engagement, or are otherwise restricted from using the information or disclosing the information to other third parties by contractual, legal or fiduciary obligations to the MGIC Companies.

Subject to the foregoing statements, the MGIC Companies do not currently have any arrangements for or agreements with unaffiliated entities permitting access to or sharing of confidential information. In addition, the MGIC Companies do not sell confidential information to third parties and have no plans to do so.

Protection of Consumer Information

The MGIC Companies have implemented a comprehensive information security program to protect the security, confidentiality and integrity of confidential information. As part of our program, the MGIC Companies have adopted and agree to maintain policies and practices designed to:

  • ensure the security and confidentiality of confidential information;
  • protect against any anticipated threats or hazards to the security or integrity of confidential information; and
  • protect against unauthorized access to or use of confidential information that could result in substantial harm or inconvenience to any consumer.

Security measures include access controls on computer systems, access restrictions at physical locations where confidential information is maintained, encryption of confidential information transmitted electronically, employee screening, and monitoring of security measures, both internally and in connection with confidential information shared with third parties, as described above.

For more information, click here to request a copy of our Information Security Program.

Business Continuity

The MGIC Companies also have developed a thorough program to prevent interruptions in our business operations. A full-time Business Continuity Coordinator is dedicated to the development and on-going testing of recovery plans for all business units within the MGIC Companies, as well as the overall network and system infrastructure. Our business continuity program includes measures designed to provide for prompt recovery of key business functions in the event of a disaster through back-up power facilities, a hot-site recovery location and co-location of high availability applications with a leading recovery services company.

The above statement sets forth our current policies with respect to confidential information regarding your company, consumers and customers. We may make such changes in our policies as we determine appropriate; however, we will notify you before any change in our policy regarding sharing consumer information with unaffiliated third parties which would require notices to be given to consumers.