RICHMOND, Va., Aug. 2, 2012 /PRNewswire/ -- NAFCU Services Corporation recently confirmed that the U.S. Mortgage Insurance (USMI) unit of Genworth Financial (NYSE: GNW) was retained as the Preferred Partner to provide mortgage insurance and related services to its more than 800 affiliated credit unions.
The Preferred Partner designation is only awarded to one service provider, after a rigorous review process conducted by a committee of experienced credit union executives. "When selecting a Preferred Partner for private mortgage insurance, capital is an important element, along with the provider's history, knowledge and experience with the credit union community. Genworth met our stringent requirements, and we're pleased to continue our relationship with them," said David C. Frankil, president, NAFCU Services Corporation.
This is a renewal of the Preferred Provider designation NAFCU awarded to USMI in 2011. NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). NAFCU Services' mission is to understand the challenges faced by credit unions and identify market-leading solutions from top-quality providers that address those challenges.
"In recent years Credit Unions have experienced dramatic growth in their membership as well as their level of mortgage loan originations. Genworth's suite of services and dedicated team of knowledgeable professionals can help credit unions serve their members' mortgage needs," said John Clifford, USMI senior vice president of commercial operations.
Genworth Mortgage Insurance has a comprehensive suite of educational webcasts, articles, blogs and podcasts that help credit unions understand the challenges and opportunities that exist in the mortgage market. Genworth also offers credit unions competitive rates and guidelines, along with custom training programs and other resources to help credit unions build their mortgage origination business, address compliance and regulatory concerns, and understand how to meet the needs of their members.
Genworth can help credit union customers promote their mortgage offerings though programs such as the "Good 2 CU" marketing campaign; education for members on the home buying and mortgage financing borrowing process; live customer support through its ActionCenter®, and loss mitigation expertise to help credits unions keep members in their homes if they encounter financial difficulties.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advisor-based wealth management -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth has approximately 6,500 employees and operates through three divisions: Insurance and Wealth Management, which includes U.S. Life Insurance, Wealth Management and International Protection segments; Global Mortgage Insurance, which includes U.S. and International Mortgage Insurance segments; and the Corporate and Runoff division. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, Inc., 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 Financial, Inc. 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.
SOURCE Genworth Financial, Inc.