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Credit Union Member Research Findings (Podcast)

Credit unions are known for being close to their members, but even the most plugged in credit union leaders may be surprised at the findings of a recent consumer data report from Genworth Financial. The report provides a profile of the “typical” credit union member. Genworth Financial recently commissioned Acxiom, a well-known data processing company and leader in the industry of data collection and analysis, to compare consumers who are members of a credit union versus consumers who are not members of a credit union.

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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.
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.
Other products – Affordable Housing, Pledged Asset Mortgages, Construction to Permanent Loan Program
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HomeOpeners^®

It's the additional value that Genworth brings to borrowers with MI loans that makes Genworth the smart choice.

Job Loss Protection – Give your borrowers some peace of mind when they purchase a home with this additional benefit that may make a homeowner's mortgage payment if they become involuntarily unemployed.
Counseling Saver – Help your borrowers make smarter home buying decisions with pre-purchase homebuyer education through Counseling Saver. It provides a mortgage insurance discount for borrowers who receive 8 hours of pre-purchase classroom homebuyer education.
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.
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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.

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

Credit Union Member Research Findings (Podcast)
Credit unions are known for being close to their members, but even the most plugged in credit union leaders may be surprised at the findings of a recent consumer data report from Genworth Financial. The report provides a profile of the “typical” credit union member. Genworth Financial recently commissioned Acxiom, a well-known data processing company and leader in the industry of data collection and analysis, to compare consumers who are members of a credit union versus consumers who are not members of a credit union.
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)
Social 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!

News

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.
Genworth Financial Selected as NAFCU Services Preferred Partner for Mortgage Insurance (May 2, 2011)
NAFCU Services Corporation today announced the addition of Genworth Financial to its Preferred Partner Program for mortgage insurance for credit union members. Genworth provides credit unions with mortgage insurance which helps members get into homes sooner, in a safer and smarter way.