Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Genworth Hardship Program reaches significant milestone

Staff Reporter 1 minute read

Mortgage Insurer Genworth Financial announced yesterday that is has now helped over 1,000 borrowers impacted by mortgage stress to get back on their feet.

The insurer’s ‘Hardship Solutions’ program, established by Genworth in 2006 in response to increasing levels of mortgage stress, involves working with lenders and borrowers to negotiate a way to keep borrowers in their homes.

Under the program over 89 per cent of requests for assistance have been approved. 95 per cent of approved participants have been able to get back on their feet.

Peter Hall, country executive of Genworth, said that the majority of people helped through the program are able to stay in their homes, and that few reappear on delinquency lists.

“These people do have good repayment potential and are just going through a temporary glitch,” he said.

Advertisement
Advertisement

Published: 02-04-08

Genworth Hardship Program reaches significant milestone
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
court gavel ta Lending officer sentenced for giving misleading information

A former lending officer has been sentenced in court after pleadi...

fingerprint VOI rule changes postponed due to COVID

ARNECC has advised that it has reassessed its proposed amendments...

approval stamp documents ta Bank automates pre-approval process

A non-major lender has announced changes to its pre-approval proc...

FROM THE WEB