Loan defaults associated with the three late summer hurricanes had a more immediate effect on MGIC Investment Corp.'s secondary market capital cushion than proposed changes by Fannie Mae and Freddie Mac. The government-sponsored enterprises are proposing changes to the Primary Mortgage Insurer Eligibility Standards that would “materially lower” MGIC Investment Corp.'s cushion of available assets over the minimum required assets, it said in a Securities and Exchange Commission filing made in December.
