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	Mortgage Info > Mortgage Basics > Private Mortgage Insurance (PMI) > History of PMI History of PMI Private Mortgage Insurance originated in the 1950s with the first large carrier, Mortgage Guaranty Insurance Corporation (MGIC), referred to as “magic”. For this reason, early PMI methods were deemed to “magically” assist in getting lender approval on an otherwise unacceptable loan package. Today, there are eight PMI insurance underwriting companies in the United States.
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