Skip to main content

Genworth Offers Relocation Product With Discounted MI to Credit Unions

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.
About the author
Published
Mar 26, 2012
Looking For Change Under Every Couch?

Don’t overlook the obvious – employees have ideas for cost savings, too

Jun 10, 2024
New American Funding Announces New Cash-Offer Program

Similar to Opendoor and Homeward, NAF Cash Maps offers buyers a bidding war advantage

Jun 05, 2024
CFPB Issues Public Inquiry On Junk Fees Affecting Closing Costs

Agency seeks to understand why closing costs are up, who is benefiting, and how costs can be lowered.

May 30, 2024
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024
The Right Prescription

‘Doctor Loans’ making healthy strides in Florida

May 21, 2024