Genworth Offers Relocation Product With Discounted MI to Credit Unions – NMP 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
Open Mortgage Names New President

Joe Stephenson, formerly of American Advisors Group, to lead daily operations.

Industry News
Dec 01, 2021
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale
Nov 29, 2021