Genworth Mortgage Insurance

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Credit unions across the country rely on their partnership with Genworth for innovative mortgage insurance products and services to meet the challenges of today's marketplace. 

At Genworth Mortgage Insurance, our skilled seasoned team of credit union professionals come from the industry, so we understand what matters most to you. 

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

Private Mortgage Insurance (PMI)

Private Mortgage Insurance is an insurance policy that protects your credit union from loss due to a member defaulting on the loan. 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 is a great way to boost your originations and build customer loyalty. The program offers your members discounts and rebates—valued up to $3,500—on the things they need most for their new home. And, best of all, there’s no cost to participate. Differentiate yourself from the competition!

Want more information on how easy it is to become a participating lender? Contact your Genworth representative today.

    Training for Your Credit Union

    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

    •  Shut the Door on Fraud Part II: Examining Documentation for Fraud (Webinar)

      Expert presenter, MaryKay Scully, shares insights on how to hone your fraud detection skills and improve your proficiency at reviewing income, asset, property, and other loan documentation for signs of potential fraud.

    •  Shut the Door on Fraud Part I: Scams, Schemes Documentation Review (Webinar)

      Expert presenter, MaryKay Scully, will identify common fraud trends and schemes, the red flags that alert you to potential fraud and the tools available to help your credit union combat fraud.

    •  Appraisal Underwriting - Part 2 Focus on the Sales Comparison (Webinar)

      Learn about current issues surrounding the sales comparison section of the Uniform Residential Appraisal Form.

    •  Appraisal Underwriting - Part 1 The Basics (Webinar)

      This course is a high-level overview of the Uniform Residential Appraisal Report (URAR) or Form 1004. We will review the basic completion of the form by the appraiser and how it is used in the mortgage industry to support the mortgage loan transaction. 

    •  Understanding Credit Scoring and Credit Reports (Webinar)

      Discover who prepares the credit report, what information is included, where the information comes from, and the different types of available reports. Understand how to use the codes included throughout each section of the credit report, plus increase your knowledge of the elusive credit scoring model and how it impacts borrower scores.

    •  Effective Loan Application Review (Webinar)
      During this session, expert presenter MaryKay Scully reviews the form 1003. You will learn how to ensure completeness and accuracy before the file is formally processed.
    •  Time Management for Credit Union Leadership (Webinar)
      This session reviews “best practices” about making the most of your work day, how to make better use of your time, and achieve business goals.
    •  Avoid Common Underwriting Errors (Webinar)
      The best way to avoid making the most common underwriting errors is to know what they are. This session will provide you with that information. It includes feedback from many sources, including seasoned underwriters and file reviewers.
    •  Shut the Door on Fraud Part II- Examining Documentation (Webinar)
      During this session, expert presenter MaryKay Scully, MaryKay Scully, Director of Customer Education at Genworth Mortgage Insurance, will teach you how to hone your fraud detection skills and improve your proficiency at reviewing income, asset, property, and other loan documentation for signs of potential fraud.
    •  Shut the Door on Fraud Part 1: Schemes, Red Flags and Best Practices (Webinar)
      Join MaryKay Scully, Director of Customer Education at Genworth Mortgage Insurance, as she identifies common fraud trends and schemes, the red flags that alert you to potential fraud, and the tools available to help your credit union combat fraud.
    •  Introduction to the Mortgage Industry (Webinar)
      Join MaryKay Scully, Director of Customer Education at Genworth Mortgage Insurance for an introductory webinar designed for new personnel, those new to the mortgage industry, or individuals who need a refresher.
    •  Understanding Credit Scoring and Credit Reports (Webinar)
      In this informative webinar with expert presenter MaryKay Scully, you’ll discover who prepares the credit reports, what information is included, and where the information for the reports comes from.
    •  Purchase Transactions: Best Practices (Webinar)
      During this webinar, MaryKay Scully, from Genworth Mortgage Insurance, will cover: credit union tips on analyzing sales contracts for evidence of non-arm’s length transactions, excessive commissions, financing and sales concessions, repairs, and occupancy issues. She will review requirements for distressed property sales (REO or short sales) and documenting assets to close.
    •  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. 
    •  An Overview of the Changes: Fannie Mae SEL-Announcement (Webinar)
      Learn what the expected impact of Fannie Mae SEL-Announcement from September 2015 that affects loans with application dates of February 1, 2016 and after means for your credit union.

    View All Educational Resources

    News

    • Genworth Announces Credit Union Mortgage Insurance Rate Reduction (January 14, 2016)
      Effective January 19, 2016, Genworth Mortgage Insurance is reducing rates for credit unions on Borrower Paid (BPMI) and Lender Paid (LPMI) Monthly Premium Mortgage Insurance for credit scores 660+.
    • 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

    Melissa Lineberry, Segment Marketing Manager
    919-870-2411
    http://mortgageinsurance.genworth.com