Genworth Financial Selected As NAFCU Services Preferred Partner For Mortgage Insurance
Contact: David Frankil
WASHINGTON – 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. Genworth’s credit union team is made up of credit union veterans with industry market knowledge across several functions (marketing, risk, products), and Genworth also offers highly competitive rates and guidelines.
“Mortgage insurance can help credit union members qualify for a home loan with a smaller down payment, enabling first-time and low-to moderate income families to purchase a home safely and stay in it for the long term,” said Leslie McDow, credit union segment leader at Genworth.
Genworth offers a wide range of products that differentiate it in the marketplace. One such offering is job loss protection. When this product is selected, the job loss feature will cover several mortgage payments during a temporary period of involuntary unemployment, all at no added cost to the member or the credit union. This arrangement provides the member additional peace of mind during the home buying process. Another unique offering available for qualifying credit union members is “Counseling Saver” – a discount on the cost of mortgage insurance for members who receive classroom homebuyer education.
“This is one of those win-win solutions that meet the needs of both credit unions and their members,” said David C. Frankil, president, NAFCU Services. “Mortgage insurance makes homes more affordable for members, and also provides a measure of protection for the credit union.”
Learn more about the NAFCU Services/Genworth Financial partnership at www.nafcu.org/genworth.
About Genworth Financial
Genworth Financial, Inc. (NYSE:GNW) is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,500 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operates through three segments: Retirement and Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit Genworth.com. From time to time Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the “Investors” section of www.genworth.com.
About NAFCU Services CorporationNAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry’s leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 28 Preferred Partner programs to the credit union community and maintains the credit union locator website CULookup.com. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.