Underwriting Guides
Restricted Markets

MGIC has designated a number of Core-Based Statistical Areas (CBSA) and certain states as "Restricted Markets." A CBSA is the official term for a functional region based around an urban center of at least 10,000 people, based on standards published by the Office of Management and Budget. Loans secured by properties in these areas must follow MGIC's Restricted Markets underwriting guidelines.

In determining whether to place a market on the restricted markets list, MGIC uses both external and internal information sources including OFHEO Home Price Indices, National Association of Realtors change in median home prices, Moody’s Economy.com home price projections and MGIC’s own proprietary business mix and performance data.

Restricted Markets List – effective 11/24/08 (pdf)

Restricted Markets List – effective 8/4/08 (pdf)

Restricted Markets Guidelines – effective 11/24/08 (pdf)

Restricted Markets Guidelines – effective 10/01/08 (pdf)

Restricted States Guidelines – effective 11/24/08 (pdf)

Restricted States Guidelines – effective 10/01/08 (pdf)
Use Restricted State guidelines for properties in Arizona, California, Florida and Nevada

Credit Union Guidelines & Summaries