Skip to main content

Genworth Offers Relocation Product With Discounted MI to Credit Unions

NationalMortgageProfessional.com
Mar 26, 2012

The U.S. Mortgage Insurance (USMI) unit of Genworth Financial Inc. has announced that it is offering a relocation product with discounted mortgage insurance (MI) premiums to help credit unions expand their market and pursue business from members relocated by corporate and military employers. Because members of the military tend to move more often than the average American family, this relocation product can allow credit unions that serve military members to offer an additional benefit that helps those who serve their country. The discount could save active duty military and non-military borrowers up to $500 over the typical five-year period in which Genworth holds an insured loan, based on a $200,000 30-year loan with a five percent downpayment and a borrower with a 660-679 FICO score. “Genworth recognizes that credit unions play a unique role in the mortgage marketplace. We’re committed to providing products and services designed specifically for credit unions that help these institutions increase revenues, reduce costs, and provide more value to members,” said John Clifford, USMI’s vice president of products and account development. Genworth’s USMI unit has a dedicated credit union team with the experience and market knowledge to help credit unions identify and offer unique opportunities for their members. And the company taps the experience of its many employees who have served in the military to help develop products and enhancements that help lenders better support military personnel.
Published
Mar 26, 2012
Williston Financial Group, Doma Strike Deal

WFG is set to acquire Doma’s title operations, including operation centers in the Northern and Central California.

May 24, 2023
Mat Ishbia Takes A Charge At NBA Playoff Game

UWM CEO and majority owner of the Phoenix Suns involved in scuffle with Denver center Nikola Jokic

May 08, 2023
The Pitfalls Of Cash-Out Refinancing In A Rising Interest Rate Environment

Second-lien home equity loans are a far better way to take out cash

May 02, 2023
NEW YORK: How To Conquer - Not Fear - The Empire State

Roadblocks are many but payoff is worth it

May 01, 2023
RCN Capital Opens LA Office

Expansion marks lender's continued success.

Apr 26, 2023
Trigger Lead Legislation Renews Debate Over Consumer Choice

Borrowers can protect themselves from unsolicited lenders, but they could be doing themselves a disfavor

Apr 20, 2023