Genworth Mortgage Insurance

Best Practices for Completing IRS Form 4506–T: Request for Transcript of Tax Return (Webinar)
Best Practices for Completing IRS Form 4506–T: Request for Transcript of Tax Return (Webinar)

Attend this webinar to discover who prepares the credit report, what information is included, where the information comes from, and the different types of available reports.
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2011 Innovation Award Seal

 What's New

Podcast: Preview of Grow Your Lending Business through Sales Alchemy 

Overview

Credit unions across the country rely on their partnership with Genworth for innovative mortgage insurance products and services that meet the challenges of today's mortgage marketplace. Private Mortgage Insurance is an insurance policy that protects the credit union from loss due to a member defaulting on the loan.

At Genworth Mortgage Insurance, our skilled, seasoned team of Credit Union professionals come from the industry, so we understand what matters most to you. And our goal is simple: To help you serve your members better every day. That's what "Good to CU" is all about. It's about bringing all of our expertise and resources to bear in a way that helps you continually evaluate, anticipate and meet your members' changing needs.

Solutions

Mortgage Insurance (MI)

No matter which mortgage insurance product you choose the result is the same—adding mortgage insurance can make a difference in how quickly a mortgage loan is approved, and it can help your members qualify with a minimal down payment. What's more, because mortgage insurance is temporary insurance, a member can cancel it after building sufficient equity in the home.
  • Borrower Paid MI – We offer flexible options enabling homebuyers to put little money down on a home... with the simplicity of one loan. Learn more.
  • Lender Paid MI – The lender pays the mortgage insurance premium instead of the borrower. It can be a great choice for borrowers interested in an alternative to combo/piggyback loans or traditional borrower paid MI. Learn more.
  • Relocation Assistance –We offer a relocation solutionthat includes a discount on our already competitive credit union rates and access to our most flexible guidelines to help you expand your market and pursue more mortgage business from members relocated by corporate and military employers. Check out our customized value proposition for our military-focused credit unions. Learn more!
  • Other products – Affordable Housing, Pledged Asset Mortgages, Construction to Permanent Loan Program. Learn more
  • Homeowner Assistance Program – Through our Homeowner Assistance Program, Genworth professionals work one-on-one with borrowers and their lenders to help structure loan workout programs for borrowers who experience a financial hardship. 
  • Homebuyer Privileges® – Our popular Homebuyer Privileges program offers your members discounts and rebates—valued up to $3000—on the things they need most for their new home. For you, it's a great way to build your origination business. 

Training

Genworth Mortgage Insurance offers a comprehensive suite of training opportunities to boost your know-how, benefit your bottom line, and serve your borrowers better. Training includes the most current information about the mortgage and mortgage insurance industries, market conditions and regulatory environment delivered via classroom, webinar, recorded presentation or structured industry seminar. Learn more.

Like THATMIGuy on Facebook for tips and advice about the mortgage industry! 

NAFCU Member-only Benefits

NAFCU members receive Genworth’s exclusive Homebuyer Education in a Box. This professionally designed kit is chock-full of information and ideas to help your team execute education sessions for existing members or prospects. The kit includes everything your team will need: materials to market the event, content and speaker’s notes for delivering the session and tools to follow up with attendees afterwards. Contact us to learn more.
 

Educational Resources

  •  Determining Monthly Debt and Income: Appendix Q (Recorded Webinar)
    Are you familiar with the Qualified Mortgage standards for calculating a consumer's monthly debt and income? Understand the difference between Appendix Q and the Agencies. Consider areas where internal policies and procedures may need to be addressed and/or expanded.
  •  Everyone is Talking About ATR and QM (Recorded Webinar)
    Watch this webinar to learn background information on the introduction of the new ATR and QM rules. Attendees will also gain valuable facts on how the new rules will affect the loan origination process.
  •  Self-Employed Borrower Case Study, Part 1: Completing the Form 91 with Personal Tax Returns (Webinar)
    Attend this webinar to learn to calculate supportable income for self-employed borrowers using tax returns and Freddie Mac's income analysis form.
  •  Understanding Credit Reports and Credit Scoring (Recorded Webinar)
    Credit Reports & Scoring, part of the Genworth Mortgage Insurance Learning Series (GMILS) presented by Mary Kay Scully, the Director of Customer Education for Genworth Mortgage Insurance, is designed to help individuals understand their role and responsibilities when viewing credit reports. It will prepare Mortgage Loan Originators with the required knowledge in order to successfully analyze a borrower's credit report.
  •  Best Practices for Purchase Transactions (Presentation)
    Attend this webinar to learn tips on analyzing sales contracts for evidence of non-arms length transactions, excessive commissions, financing and sales concessions, repairs and occupancy issues.
  •  What’s in store for 2014? Genworth Mortgage Insurance Corp. Looks Ahead (Blog Post)
    For a look at what lies ahead in 2014 for credit unions, we turned to the Preferred Partner experts. Here is what Barbara H. Martin, Segment Marketing Sales Leader, Genworth Mortgage Insurance Corp. had to say.
  •  Time Management for Mortgage Processors (Recorded Webinar)
    Hone your fraud detection skills and improve your proficiency at reviewing income, asset, property and other loan documentation for signs of potential fraud.
  •  Part 2 Shut the Door on Fraud: Examining Documentation (Recorded Webinar)

    Hone your fraud detection skills and improve your proficiency at reviewing income, asset, property and other loan documentation for signs of potential fraud.

  •  Part 1 Shut the Door on Fraud: Schemes, Red Flags, and Best Practices (Recorded Webinar)

    Identify common fraud trends, schemes, and red flags that alert you to potential fraud. Discover the tools available to help you combat fraud.

  •  Asset Review for Mortgage Loans (Recorded Webinar)
    This session reviews Fannie Mae and Freddie Mac’s current requirements for asset review. Learn how to review bank statements and assets, key compliance components for Agency loans, and the minimum borrower contribution & maximum seller contribution guidelines.
  •  Understanding Freddie Mac’s Loan Prospector Feedback Certificate (Recorded Webinar)

    This fast-paced 90-minute training will help you navigate Freddie Mac's Loan Prospector Feedback Certificate. Get tools and tips to make it easier to manage your members' applications.

  •  Self-Employed Borrower: Case Study Part II: Completing the Form 91 with Business Tax Returns (Webinar)
    Session 2 continues to take the participant through a review of Freddie Mac's Form 91. The participant will calculate the qualifying income for a fictitious couple by entering their tax return data on the Form 91.
  •  Self-Employed Borrower: Case Study Part I: Completing the Form 91 with Personal Tax Returns (Webinar)

    Session 1, presented by Mary Kay Scully, the Director of Customer Education for Genworth Mortgage Insurance, takes the participant through a review of Freddie Mac's Form 91. The participant will calculate the qualifying income for a fictitious couple by entering their tax return data on the Form 91.

  •  Shifting Social Media From If to How (Article)
    Social media has been embraced by consumers — your members and potential members. Your employees are engaged in social media activities, whether they are active on Facebook, LinkedIn, Pinterest, Twitter, and other sites or active bloggers themselves. In fact, social media has become more mainstream, with growing participation in all age groups and income levels. The question for credit unions has changed from “Should we or shouldn’t we?” to “How do we?”
  •  Analyzing Appraisals: Focus on Sales Comparison (Recorded Webinar)

    “Analyzing Appraisals: Focus on Sales Comparison” is part of the Genworth Mortgage Insurance Learning Series (GMILS) presented by Mary Kay Scully, the Director of Customer Education for Genworth Mortgage Insurance. This credit-union specific webinar series covers key subjects designed to help you better serve your members and add value to your credit union. From underwriting and analyzing credit to appraisals and mortgage insurance, you’ll get a comprehensive introduction to the latest strategies and regulatory insights. 

  •  Genworth Mortgage Insurance Learning Series (Webinar Series)
    Our credit-union specific webinar series covers key subjects designed to help you better serve your members and add value to your credit union. From underwriting and analyzing credit to appraisals and mortgage insurance, you’ll get a comprehensive introduction to the latest strategies and regulatory insights. All webinars are offered at no cost to you. 
  •  Credit Union Industry Experts: What's in Store for 2013 (Blog Post)
    For our year-end blog post I asked our Preferred Partners to tell us what they see coming over the horizon, from their perspective, that credit union executives need to be focused on and/or prepared for as we head into 2013. Looking back a year, I see some common themes—revenue issues, economic uncertainty, regulatory uncertainty, and political uncertainty. Read more of this NAFCU Services Blog post.
  •  Be the one-in-a-million (or 663,000,000) to your members (Blog Post)
    At the 2012 NAFCU Annual Conference, Steve Richman of Genworth Financial explained five key points you need to know to succeed in the real estate and mortgage business. These points can be applied to any industry actually and should be the basis for your marketing efforts. Read more of this NAFCU Services Blog post.
  •  Marketing to Reach Your Members (Podcast and Presentation)
    A recent survey suggests that mortgage professionals have a low rank in terms of credibility in the market place. When marketing to consumers, credit unions need to focus on the messages they deliver to establish a higher level of trust. In this presentation, we will examine methods on how credit unions can set themselves apart and successfully market mortgage insurance to consumers.
  •  Making Sense of the U.S. Economy and Housing Market (Webinar)

    Watch this recorded webinar to hear Genworth's economist, Nathan Struemph, discuss informative economic updates and forecasts. You will get a 360 degree view on economic trends, including a deeper dive into the U.S. housing market and walk away with the critical information you need to introduce stronger more definitive strategies at your credit union.

  •  Top MI Decision Errors: 1st Quarter 2012 (Article)
    In order to have an effective mortgage program, your credit union must first execute many steps. Mortgage Insurance (MI) is one of those important steps. If done correctly, all parties benefit; your members gain the ability to obtain a loan with more options and better rates, and your credit union has some protection from risk. With this in mind, Genworth tracks the MI decision errors of their clients on a quarterly basis.
  •  Serving the Unique Needs of Military Members (Podcast)
    With the average military assignment of less than three years, military families are constantly getting stretched physically, mentally and financially when they are ordered to move. Genworth Mortgage Insurance has developed a specific set of solutions which allow credit unions to better assist their military members with relocation. In this podcast, Brian Doyle, Genworth Mortgage Insurance’s Vice President of Commercial Operations and former Air Force C-17 Pilot, explains how credit unions can take advantage of this opportunity to help their military members finance their mortgages.
  •  Helping Our Credit Union Military Members (Blog Post)
    The long Memorial Day weekend is more than just a break from work, it gives us a chance to reflect on the sacrifices that the men and women of our military make on our behalf.  I’m speaking not just of the sacrifice of those who have given their lives or were wounded in action, but also of others who put their lives on hold for military service, and to their families as well. Read more of this NAFCU Services Blog post.
  •  How Credit Unions Can Leverage the Mortgage Market Place (Podcast and Presentation)
    This presentation from NAFCU’s 2012 Strategic Growth Conference takes a look at the current consumer, creating a growth business plan, free resources for tracking lending trends, conducting an internal mortgage product analysis and how you can use social media to generate mortgage borrowers.
  •  Leveraging the Current Mortgage Marketplace with Charitable Marketing (Podcast)
    In a challenging marketplace, it is important to find unique ways to make your credit union stand out to consumers. One way a credit union can increase their market share is by building a personal connection using charitable marketing. Listen to this podcast to learn more about how credit unions can leverage the current mortgage marketplace and grow market share with charitable marketing.
  •  Planning for a Purchase Market: Consumer Trends for Loan Officers (Webcast)
    Our credit union members and prospects are constantly changing. And it is an ongoing challenge to address and connect with their changing needs and attitudes. In this webcast, we look at trends in consumer behavior and learn some tips for how to best make use of that information as a loan officer.
  •  Planning for a Purchase Market: Facebook for Loan Officers (Webcast)
    Steve Richman Genworth WebcastSocial media continues to grow in reach as well as in capability. In fact, as a loan professional social media can be used as a valuable resource. In this webcast we explore the innovative ways you can use the popular social networking platform, Facebook, to enhance and generate business.
  •  Planning for a Purchase Market: Market Analysis Tools for Loan Officers

    Gaining insight into local markets is critical for loan officers. In this webcast, we explore six free market analysis tools that provide detailed information to help credit union loan officers analyze their local markets.

  •  SmarterMI.com: Now Open for Business
    As your borrowers navigate through the mortgage process, chances are that you're always there with answers to their mortgage-related questions. But now, when it comes to specific questions about Mortgage Insurance, you can refer them to our new website, SmarterMI.com. Watch a fun (and short!) video clip to learn what it's all about!

View All Educational Resources

News

  • NAFCU Services Announces Genworth Mortgage Insurance Learning Series (January 31, 2013)
    Washington - NAFCU Services Corporation opened registration today for the Genworth Mortgage Insurance Learning Series, six webinars offered at no cost to the credit union community. Genworth Mortgage Insurance is the NAFCU Services Preferred Partner for private mortgage insurance that enables credit union members to buy a home years sooner by putting less than 20 percent down.
  • Genworth Announces Two Leadership Changes in Mortgage Insurance Businesses (May 1, 2012)
    RICHMOND, Va., May 1, 2012 /PRNewswire/ -- Genworth Financial, Inc. (NYSE:GNW) announces that it has named U.S. Mortgage Insurance President and Chief Executive Officer (CEO) Kevin Schneider as president and CEO of its recently formed Global Mortgage Insurance division, effective immediately. In this capacity, Schneider also has been named an executive vice president of the company.
  • Genworth Offers Relocation Product with Discounted Mortgage Insurance Premiums to Credit Unions (March 26, 2012)

    RICHMOND, VA. – The U.S. Mortgage Insurance (USMI) unit of Genworth Financial, Inc. (NYSE: GNW) today announced that for the first time, it is offering a relocation product with discounted mortgage insurance premiums to help credit unions expand their market and pursue business from members relocated by corporate and military employers. The discounted mortgage insurance rate will be available for applications received on or after March 26, 2012.

  • Genworth Financial Reveals Credit Union Member Characteristics in a New Podcast with NAFCU Services (December 13, 2011)
    WASHINGTON — NAFCU Services Corporation and Genworth Financial, NAFCU Services’ preferred partner for private mortgage insurance for credit unions, released a free podcast discussing the results of a recent survey that examines comparisons of credit unions members and non-members.

Contact

Barbara Martin
919-846-3129
http://mortgageinsurance.genworth.com
barbara.martin@genworth.com