This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Genworth U.S. Mortgage Insurance Introduces More Detailed, Easier To Understand Commitment/Certificate Of Insurance

RICHMOND, Va., April 8, 2013 /PRNewswire/ -- Genworth U.S. Mortgage Insurance (USMI), a unit of Genworth Financial, Inc. (NYSE: GNW) today announced a redesigned Commitment/Certificate of Insurance that will make it easier for customers to understand information about their mortgage insurance.

Genworth USMI redesigned the document to improve its readability and provide additional loan-level detail for customers. Some data fields were renamed for clarity, and new data fields were added, including: debt-to-income ratio, loan purpose, and submission method. The process for submitting loans, ordering mortgage insurance, or activating mortgage insurance coverage remains the same, so customers will not have to learn new procedures.

The simplified Commitment/Certificate includes clear Instructions, on a separate page, for how to activate mortgage insurance coverage. Customers also can print their own copy of a Commitment/Certificate directly from the website at

The new Commitment/Certificate was introduced to customers last month as another element of Genworth USMI's exclusive Simplify MI(SM) effort to improve the mortgage insurance experience for customers and provide additional value beyond a competitive price.

When Genworth USMI approves an application for mortgage insurance, it issues a document called the Commitment/Certificate of Insurance to provide customers with a concise, comprehensive view of key information and details of the mortgage insurance coverage that applies to a specific loan, including borrower information, loan details, and mortgage insurance coverage and payment options.

Before the loan is closed, the document serves as Genworth's commitment to insure the loan, although insurance has not been activated and is not in effect. Once the lender closes the loan, any applicable premium has been paid and Genworth has been notified to activate coverage, the document serves as the insurance certificate and extends Genworth USMI coverage to the loan.

Customers can learn more about the simplified Commitment/Certificate of Insurance by viewing the new brochure online or watching a recorded webinar. Customers also can contact their Genworth USMI account representative, or the ActionCenter® at 800-444-5664, or

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs