RICHMOND, Va., Oct. 15, 2018 /PRNewswire/ -- Genworth Mortgage
Insurance, an operating segment of Genworth Financial, Inc. (NYSE:
GNW), today announced the launch of Home Suite Home, its latest
borrower benefit program designed to help preserve borrowers'
financial stability when faced with unexpected, non-recurring
homeownership costs.
Upon the closing of a mortgage loan with a participating Lender,
eligible borrowers who register for Home Suite Home can select one
of three benefits: Appliance Home Warranty, Homeowners Insurance
Deductible Reimbursement or Identity Theft Reimbursement &
Restoration Consulting Services. The program helps to alleviate
some unexpected homeownership costs and may improve borrowers'
ability to remain current on their mortgage payments while
maintaining their home and financial stability. This is
particularly important given current market dynamics, where home
prices are rising, making monthly mortgage payments more expensive,
particularly for first-time homebuyers.
"Higher home prices and interest rates have a direct effect on a
borrower's monthly mortgage payments, making it more difficult for
them to absorb unexpected or non-recurring costs associated with
homeownership," said Kevin McMahon,
senior vice president of customer solutions, Genworth Mortgage
Insurance. "For years, we've played a significant role in helping
borrowers become homeowners. Now, with innovative products like
Home Suite Home, we're not only able to help them stay in their
homes, but also maintain financial peace of mind by defraying some
of the unexpected costs of homeownership."
Home Suite Home is offered at no cost to both Genworth's lenders
and their eligible borrowers. Lenders can opt-in to the program to
access the suite of benefits for their homebuyers. The three
benefit coverages are underwritten or provided by third-parties and
subject to terms, conditions and exclusions available on Genworth's
website. Home Suite Home is not available or approved in all
states. Mortgage lenders interested in learning more about the
program should contact their local Genworth Sales representative or
visit the Home Suite Home website for more information.
About Genworth Financial
Genworth Financial, Inc.
(NYSE: GNW) is a Fortune 500 insurance holding company committed to
helping families achieve the dream of homeownership and address the
financial challenges of aging through its leadership positions in
mortgage insurance and long term care insurance. Headquartered
in Richmond, Virginia, Genworth
traces its roots back to 1871 and became a public company in
2004. 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 genworth.com. From time to time, Genworth's
publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth
Mortgage Insurance Australia Limited, separately release financial
and other information about their operations. This information can
be found at http://genworth.ca and
http://www.genworth.com.au.
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SOURCE Genworth Financial, Inc.