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EXHIBIT 21
MGIC INVESTMENT CORPORATION
DIRECT AND INDIRECT SUBSIDIARIES AND JOINT VENTURES(1)
| 1. | MGIC Assurance Corporation |
| 2. | MGIC Australia Pty Limited(2) |
| 3. | MGIC Credit Assurance Corporation |
| 4. | MGIC Indemnity Corporation |
| 5. | MGIC Insurance Services Corporation |
| 6. | MGIC Investor Services Corporation |
| 7. | MGIC Mortgage and Consumer Asset I, LLC(3) |
| 8. | MGIC Mortgage and Consumer Asset II, LLC(3) |
| 9. | MGIC Mortgage Reinsurance Corporation |
| 10. | MGIC Mortgage Services, LLC |
| 11. | MGIC Reinsurance Corporation |
| 12. | MGIC Reinsurance Corporation of Vermont(4) |
| 13. | MGIC Reinsurance Corporation of Wisconsin |
| 14. | MGIC Residential Reinsurance Corporation |
| 15. | MIC Reinsurance Corporation of Wisconsin |
| 16. | MIC Reinsurance Corporation |
| 17. | MGICA Pty Limited(2) |
| 18. | Mortgage Guaranty Insurance Corporation |
| 19. | eMagic.com LLC |
| 20. | Credit-Based Asset Servicing and Securitization LLC(5) |
The names of certain entities that would not in the aggregate be a significant subsidiary are omitted.
___________________
___________________
(1) Except as otherwise noted in a footnote, all companies listed are 100% directly or indirectly owned by the registrant and all are incorporated in Wisconsin.
(5) Less than 50% owned and organized under Delaware law.