American Banker in its Pipeline reported that two mortgage insurers have recently been given the OK to keep writing new business even if their risk-to-capital ratios exceed the 25-to-1 maximum permitted in 16 states.

In a regulatory filing Tuesday, MGIC Investment Corp. said Freddie Mac granted a newly formed subsidiary approval to write new business in those states in the case its main operating unit fails to meet capital requirements. The waiver is good through 2012.

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