Power of Attorney Regarding Form 4 and Form 5

KNOW ALL BY THESE PRESENTS, that the undersigned,
a director of MGIC Investment Corporation
(the "Company") hereby appoints each person
who is the Chief Financial Officer,
the Chief Accounting Officer, the General
Counsel, the Associate General Counsel or the
Assistant General Counsel of the Company as
the attorney-in-fact and agent of the undersigned
to sign the undersigned's name to any Form 4 or
Form 5 to be filed with the Securities and
Exchange Commission or any securities exchange.
Each of the persons authorized to act as
such attorney-in-fact and agent above may
do so separately without the concurrence of the
other persons.  The authority granted hereunder
is granted to the person occupying the position
specified at the time such authority is exercised.


Date:  February 3, 2003

         /s/  David S. Engelman

         Please print name:  David S. Engelman