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Tag Archives: Genworth

The Industry Pulse: Updates on Aspen Grove Solutions, Indisoft, and More …

Which companies are merging, and what professionals are moving? See some highlights in this update of the housing and mortgage industries. Maryland-based property technology solutions provider, Aspen Grove Solutions, has announced the appointment of industry veteran Mike Jurkovic as VP, Business ...

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Genworth Mortgage Insurance Promotes New HFA Director

Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc., announced the appointment of Steve Hitchings to HFA Director. Hitchings is a 32-year veteran of GE/Genworth Mortgage Insurance, most recently serving as an Account Development Manager, where for the past ...

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Business Declines for Private Mortgage Insurers

A total of 38,908 insurance certificates for borrowers seeking to buy or refinance a home were issued by members of Mortgage Insurance Companies of America (MICA) in October. That number sits lower than most other months of 2013 and is nearly 4,000 less than last October. At the same time, dollar volume on insurance written throughout the month was the lowest since May 2012.

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September Sees Drop in New Private Mortgage Insurance

Member firms of Mortgage Insurance Companies of America (MICA) issued a combined 37,501 new mortgage insurance policies with a dollar volume of $9.6 billion in September. Private mortgage insurers' new business for the month represents a drop from the 46,051 new policies issued in August and tracks a drop in August application volume of more than 5,000.

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Genworth Adds Two to MI Senior Leadership Team

Genworth Financial, Inc., announced Wednesday that the company is strengthening the senior leadership team of its U.S. Mortgage Insurance (USMI) unit with the addition of two key executives. Paul Gomez was recently promoted to COO of USMI, and George Reichert was named chief information officer (CIO).

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Genworth Announces Free Training Courses in April

Genworth U.S. Mortgage Insurance (USMI), a unit of Genworth Financial, Inc., announced it will offer 24 training classes in April to help mortgage lenders and servicers improve their efficiency and build their business. Genworth offers an extensive slate of training courses through classroom teaching, instructor-led webinars, and videos and recorded webinars that customers can access and complete at their own pace.

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CFPB Files Complaints Against Mortgage Insurers for Alleged Kickbacks

The CFPB took action against four mortgage insurance companies who gave kickbacks to lenders in exchange for business. The CFPB filed complaints and proposed consent orders against Genworth U.S. Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, Radian Guaranty Inc., and United Guaranty Corporation for their alleged roles in kickback arrangements. ""The orders announced today put an end to these types of arrangements and require these insurers to pay more than $15 million in penalties for violating the law,"" said CFPB director Richard Cordray.

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Ocwen Closes Deal for Genworth’s Liberty Home Equity Solutions

Ocwen Financial Corporation announced the closing of its deal to acquire the country's largest reverse mortgage lender. The Atlanta-based financial services holding company announced in October it had entered into an agreement with Genworth Financial Corporation to purchase Liberty Home Equity Solutions, at the time known as Genworth Financial Home Equity Access. The purchase price was approximately $22 million. Ocwen CEO Ron Faris said the deal ""positions [Ocwen] well in a market with enormous future growth potential.""

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