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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000876437-09-000080.txt : 20090702
<SEC-HEADER>0000876437-09-000080.hdr.sgml : 20090702
<ACCEPTANCE-DATETIME>20090702133748
ACCESSION NUMBER:		0000876437-09-000080
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090129
FILED AS OF DATE:		20090702
DATE AS OF CHANGE:		20090702

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HAGERTY THOMAS
		CENTRAL INDEX KEY:			0001140123

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10816
		FILM NUMBER:		09926137

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MGIC INVESTMENT CORP
		CENTRAL INDEX KEY:			0000876437
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		IRS NUMBER:				391486475
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		250 EAST KILBOURN AVENUE
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
		BUSINESS PHONE:		4143476480

	MAIL ADDRESS:	
		STREET 1:		250 EAST KILBOURN AVENUE
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2009-01-29</periodOfReport>

    <dateOfOriginalSubmission>2009-02-02</dateOfOriginalSubmission>

    <issuer>
        <issuerCik>0000876437</issuerCik>
        <issuerName>MGIC INVESTMENT CORP</issuerName>
        <issuerTradingSymbol>MTG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001140123</rptOwnerCik>
            <rptOwnerName>HAGERTY THOMAS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THOMAS H. LEE COMPANY</rptOwnerStreet1>
            <rptOwnerStreet2>75 STATE STREET</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02109</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Share Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-01-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>32258.0645</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2010-04-01</value>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>32258.0645</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>51317.1125</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person participates in the MGIC Investment Corporation Deferred Compensation Plan for Non-Employee Directors under which units corresponding to shares of Common Stock of the Issuer (&quot;Share Units&quot;) are awarded to the reporting person.  The Share Units are settled in cash, generally at the time the reporting person ceases to be a Director of the Issuer, unless a qualified election for earlier distribution is made by the reporting person.</footnote>
        <footnote id="F2">Due to a rounding error in the original Form 4, this amended Form 4 is being filed to correct the number of Share Units acquired by the reporting person in this transaction and to correct the resulting number of Share Units beneficially owned by the reporting person following this transaction. The number of Share Units acquired in this transaction was erroneously rounded down to the nearest whole share. This amended Form 4 corrects the number of Share Units by adding in the fractional share that was missing due to rounding in the original Form 4.  Pursuant to Instruction 9(b) to Form 4, only the lines of the original Form 4 requiring correction or amendment are being restated on this amended Form 4.</footnote>
        <footnote id="F3">These Share Units do not have a specified dollar-denominated exercise or conversion price.  (Their value is based, on a one-for-one basis, on the price of the Issuer's common stock on the New York Stock Exchange.)</footnote>
        <footnote id="F4">These Share Units are subject to certain restrictions, and vest when such restrictions lapse.  The restrictions generally lapse on April 1, 2010.</footnote>
        <footnote id="F5">These Share Units do not expire on a fixed date.  Under certain circumstances, the Share Units are subject to forfeiture if the reporting person ceases to be a Director of the issuer before the lapse of restrictions on the Share Units.</footnote>
        <footnote id="F6">These Share Units were awarded to the reporting person pursuant to the Issuer's 2002 Stock Incentive Plan and no price was paid by the reporting person for the Share Units.</footnote>
    </footnotes>

    <remarks>This Form 4 is being signed by the reporting person's attorney-in-fact pursuant to a previously filed power of attorney.</remarks>

    <ownerSignature>
        <signatureName>Dan D. Stilwell, Attorney-in-fact</signatureName>
        <signatureDate>2009-07-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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