RICHMOND, Va., July 9, 2012 /PRNewswire/ -- The U.S. Mortgage Insurance (USMI) unit of Genworth Financial, Inc. (NYSE: GNW) today announced enhancements to its customer-facing website that substantially reduce the number of data fields required to submit a full-service loan package and receive a mortgage insurance coverage decision.
The Quick Submit option eliminates redundant data entry and provides a better customer experience, particularly for lenders that currently submit loan documents via email, or on paper using more costly facsimile transmission and overnight mail methods. The Quick Submit option is the latest in ongoing USMI enhancements that have made it easier for all customers to submit contract underwriting, Home Affordable Refinance Program (HARP) and "doc-only" full package loan submissions through its intuitive, easy-to-use web portal, using a single user name and password.
Customers using Quick Submit can perform "one-click" document uploads, even when sending multiple files, and can view and track the status of every loan, regardless of how the loan was submitted.
The Quick Submit option allows a customer that sets mortgage insurance preferences to complete the data fields required to initiate submission of a loan for granting of a mortgage insurance decision in about 60 seconds, and submit the full loan package – including required documents – in minutes.
USMI also has increased staffing to ensure a smooth transition for customers choosing the Quick Submit option, so customers will not experience any change in Genworth's industry-leading mortgage insurance decision turn times. USMI will provide online training to customers on how to use the Quick Submit option, or customers with questions can contact USMI's ActionCenter® at 800-444-5664, or Action.Center@genworth.com.
Customers have the option to continue to submit loans using the existing online process that also provides instant feedback on USMI guidelines.
The effectiveness of the Quick Submit enhancements was verified during a three-month pilot period earlier this year. Pilot customers expressed very high satisfaction with the option, with 92 percent of former FlexConnect® users choosing the Quick Submit option to submit their full loan packages by the end of the pilot.
Representative customer comments on the Quick Submit pilot included:
"Your process to request HARP MI certificates is slick. Best I've run across so far and the fastest, by far." – Sara Priest, lead mortgage processor, Icon Credit Union
"(Quick Submit) is AWESOME! So easy to use!" – Stephanie Thompson, DE Underwriter, Royal United Mortgage
Customers said they found the Quick Submit option intuitive to use, requiring fewer calls for assistance or questions to USMI's ActionCenter than users of paper, facsimile or other submission options.
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 6,400 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.