Genworth Debuts GenRATE Pricing Engine
November 26, 2018
Genworth Mortgage Insurance has introduced GenRATE, a proprietary risk-based pricing engine.
According to the Richmond, Va.-based company, GenRATE will be available to lenders beginning on Dec. 10. Loan officers to be able to obtain GenRATE quotes through their loan origination systems, Optimal Blue or Rate Express.
“Demand for more dynamic pricing is growing, both in our industry and more broadly,” said said Rohit Gupta, President and Chief Executive Officer at Genworth Mortgage Insurance. “Offering lenders the option of either rate card or risk-based pricing is the best way to show lenders that we understand and can continue to meet their evolving needs. Maintaining our standard rate card to complement GenRATE allows us to still offer the transparency and simplicity some lenders prefer while addressing other lenders' shifting prioritization towards more dynamic pricing.”
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