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Fannie Mae Approves Genworth Subsidiary for Mortgage Insurance

""Fannie Mae"":http://www.fanniemae.com sent a notice to its lenders and servicers Tuesday announcing that the GSE has approved a unit of

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""Genworth Mortgage Insurance Corporation"":http://www.mortgageinsurance.genworth.com/ to provide mortgage insurance for conventional first mortgage loans.

The subsidiary, North Carolina's Genworth Residential Mortgage Assurance Corporation (GRMAC), is approved to write coverage on Fannie Mae loans in a limited number of states, which the GSE says may change over time. The mortgage insurer is responsible for compliance with its state limitations.

Mortgage loans insured by GRMAC are eligible for whole loan purchase or inclusion in a mortgage-backed securities (MBS) pool if they have note dates on or after April 18, 2011.

The GSE's full list of approved mortgage insurers can be found on ""Fannie Mae's business site"":https://www.efanniemae.com/sf/refmaterials/frequsedcodes/pdf/micodes.pdf.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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