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National industry appointments update - 9/29/2006

National Mortgage Professional
Sep 28, 2006

Genworth's IO 40 features smaller payment increaseMortgagePress.comGenworth IO 40 Genworth Mortgage Insurance has launched a 40-year interest-only loan, titled IO 40, which features interest-only payments for the first 10 years and amortization over the next 30. Amortization over 30 years, rather than the industry-standard 20, provides for a significantly smaller price increase during the transition from monthly interest-only payments to monthly payments of both principal and interest. Loans up to 100 percent loan to value are eligible. Raleigh, N.C.-based Genworth Mortgage Insurance is a division of Genworth Financial Inc., an insurance holding company. For more information, call (888) 436-9678 or visit www.genworth.com.
Published
Sep 28, 2006
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