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Volume 7 - Number 5

February 28, 2014

Genworth Explains Benefits of New Master Policy

Genworth Mortgage Insurance is helping customers understand the benefits of the new master policy private mortgage insurers have helped develop with Fannie Mae and Freddie Mac to improve the MIs' operating and servicing processes. Genworth expects the new master policy to take effect in July. Customers will receive a copy of the document as well as information explaining its benefits and operation before the effective date. A "Master Policy Introduction Reference Notes" and other resources may be found at Genworth's website, including a downloadable sample of the master policy, sample endorsements, a summary of changes and frequently asked questions. In December 2013, the Federal Housing Finance Agency announced the government-sponsored enterprises' completion of the first major overhaul of the MI master policy requirements in many years. As part of their conservatorship, Fannie and Freddie were required to ...

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