Program Supports Builder-Owned Mortgage Companies
With products and services to provide customized programs for builder-owned mortgage companies, Genworth Financial has developed The Builder Difference to bring together a broad variety of tested mortgage origination solutions for this specialized audience. Based in Richmond, Va., Genworth Financial has been joined by GE Mortgage Insurance and is a member of the National Council of the Housing Industry — the Supplier 100 of NAHB. The Builder Difference program focuses on three key areas: - Products and services create opportunities to drive market share through competitive mortgage insurance rates and expanded mortgage coverage. Genworth offers builder mortgage companies an exclusive reduced rate on mortgage insurance for second homes, saving home buyers money and helping increase sales and capture rates. The company also provides extended credit enhancement on newly constructed homes at no additional fee. Coverage is provided throughout the construction phase, and borrowers don’t have to pay premiums until the loan becomes permanent.
- Consumer programs provide education tools and discounts and offers for customers who have questions about the mortgage process or who need an extra incentive to buy. Links on participating builders’ Web sites take prospective buyers to HomeNOW.com, a new Genworth platform with comprehensive information on every step of the home buying process. Borrowers who use the site can qualify for a $500 gift card if they close a loan with a participating builder company and it includes mortgage insurance from Genworth. The company also offers Homebuyer Privileges, an online program that enables participating lenders to provide qualified buyers with as much as $7,500 in savings on home-related products and services.
- Productivity tools are available to help companies automate and improve their mortgage processes. Genworth’s AU Central® system allows faster access to more automated underwriting system platforms than any other portal. Doc Central®, available through AU Central, further increases lender speed and productivity by using image-enabled technology to eliminate paper and decrease turnaround time. And the company’s Best Practices group provides management expertise and consulting on a full spectrum of services from process re-engineering to defect reduction and problem solving.
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