Despite current struggles in Genworth Financial's long term care insurance business, which is marring any earnings that it could have, the company’s mortgage insurance business offers a slice of good news.
The Federal Housing Finance Agency announced in June that it was seeking industry opinion on Fannie Mae and Freddie Mac guarantee fees, and while the results of this have not been revealed, a new survey of mortgage bankers gives a preview into what lenders expect to happen with increases.
Paul Gomez and George Reichert joined the senior leadership team at Genworth Financial’s U.S. Mortgage Insurance unit after being named chief operations officer and chief information officer, respectively.
"We designed the Rate Express mobile application based on extensive feedback from customers about the features that would help them be most productive," said Erika Stinson, Genworth U.S. Mortgage Insurance digital channel product manager.
Mortgage insurers face ongoing challenges as the market attempts to shift to private capital. At the same time, regulators are calling for stronger underwriting standards at private MIs, but the sudden push could stall the return of private capital.
Layton has over 35 years of experience in financial services and as a corporate leader. He worked for nearly 30 years at JPMorgan Chase and its predecessors, starting as a trainee and rising to vice chairman and member of the three-person Office of the Chairman, retiring in 2004..
"The questions become, ‘Do the courts find a distinction between housing policy and lending, as in whether to make a loan and how you price that loan? Does the government get broader discretion than the private sector?’ ” Andreano said. “It’s not fleshed out.” Read More