MILWAUKEE, Feb. 18, 2020 /PRNewswire/ -- Mortgage
Guaranty Insurance Corporation (MGIC) (NYSE: MTG) and Down Payment
Resource® (DPR) today announced their joint launch
of Down Payment Connect, a tool that helps loan officers match
potential homebuyers to down payment assistance programs in their
area.
MGIC, a premier provider of mortgage insurance nationwide
partnered with DPR, the leading provider of information on down
payment assistance programs since 2008. The result of that
partnership is the launch of Down Payment Connect, a
subscription-based down payment assistance (DPA) look-up tool that
loan officers can use to educate borrowers about programs that may
be a fit for their situation. MGIC loan officer customers can use
Down Payment Connect to help eligible homebuyers quickly identify
assistance programs and boost the affordability of their
mortgage.
"For more than 60 years, MGIC has helped families achieve
homeownership sooner by making affordable low-down payment
mortgages a reality," said Margaret
Crowley, MGIC VP Marketing and Customer Experience. "Through
Down Payment Connect, our customers now have access to hundreds of
down payment programs in a single database to help them grow their
customer base and, most importantly, put more families in
homes."
"We know the challenge of saving for the down payment is the
number one hurdle for first-time homebuyers and many buyers don't
know to ask about this type of help. Now more than ever, it's
important for buyers to understand and evaluate homeownership
programs that may help them buy a home sooner," said Rob Chrane, CEO of Down Payment
Resource®. "We are excited to help MGIC loan officer
customers connect more buyers to available down payment
assistance."
For more information about MGIC's partnership with Down Payment
Resource, please visit https://www.mgic.com/DPR.
About MGIC
MGIC (www.mgic.com), the principal
subsidiary of MGIC Investment Corporation (NYSE: MTG), 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
December 31, 2019, MGIC had
$222.3 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, including
corrections of previous disclosures, 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.
About Down Payment Resource®
Down Payment
Resource® (DPR) is a nationwide database of down
payment assistance and affordable lending programs. The company
tracks funding status, eligibility rules, benefits and more for
approximately 2,400 programs in 13 categories. Its award-winning
technology helps the housing industry connect more homebuyers to
the down payment help they need. DPR has been recognized by Inman
News as "Most Innovative New Technology" and the HousingWire
Tech100™. DPR is licensed to Multiple Listing Services, Realtor
associations, lenders and housing counselors across the country.
DPR's subscription-based service, Down Payment Connect, helps
agents and loan officers match buyers to available programs. For
more information, please visit DownPaymentResource.com and
Twitter at @DwnPmtResource.
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SOURCE MGIC Investment Corporation