MGIC has relaxed some of its underwriting guidelines. Among the changes are higher loan-to-value ratios, increased loan amounts and reduced credit scores.
With a credit score of at least 720, the maximum loan amount on one-unit properties has been raised to $650,000 from $450,000. The LTV ratio is 97 percent.
On residential loans up to $650,000 with LTV ratios up to 95 percent, the minimum credit score on one-unit properties has been reduced to 680 from 700.
Source: Mortgage Daily