Genworth specialist teams
At Genworth we pride ourselves on our commitment to our lender customers ensuring each interaction is a positive experience. We want to ensure that you always obtain the highest level of service from our dedicated Genworth team members.
Operations consists of six teams that span across the entire Lenders Mortgage Insurance (LMI) policy lifecycle
- Scenarios Centre - All Origination scenarios throughout the policy submission process such as new business, variations, premium and broker enquiries
- Information Processing - Fulfil the administrative side of processing transactions within the policy lifecycle, from new business, bulk transactions and policy cancellations
- Underwriting - Assess and decision LMI policy applications in line with Genworth’s risk appetite
- Quality - Support Operations through portfolio management, operational changes, training, business and procedural improvement, system and asset management, operational 1st line controls which include underwriting decisions, data entry, AML, Review and investigations
- Loss management - Support Genworth customers and borrowers with hardship and arrear management strategies
- Claims and recoveries - Assess and decision LMI claims, in addition provide recovery service as appropriate.
Genworth Originations Scenario Centre
Originations Scenario Centre
Premium Credits hotline and inbox premiumcredits
eLMI Portal enquiries
The Quality Team consists of the following core functions and teams - Business Improvement, Technical Support, eLMI portal support, Review and Investigations, Quality Assurance and Portfolio Management.
Under these functions we support Operations with portfolio management, operational changes, training, business and procedural improvement, system and asset management, and operational first line controls which include underwriting decisions, data entry, AML, Review and investigations.
The Loss Mitigation Team play an active role in working with our Lenders to mitigate losses by rehabilitating defaults and providing collateral insights. In the event where a cure cannot be found, the Loss Mitigation team ensure litigation timelines are adhered to as per master policy agreements with our Lenders.
Genworth’s Loss Mitigation Team comprises of experienced Valuer’s and Real Estate Agents and staff with strong financial backgrounds. Hence, placing Genworth in a favorable position to provide in-depth insights and expert advice to our Lender’s on their distressed portfolio as well as current market conditions.
Delinquency Management – Hardship/Arrears/Borrower Sale/Property Sales
The aim of the Home Owner Assistance Program (HOAP) is to keep Borrowers in their homes. The two key offerings with HOAP are -
- Hardship program - Formed to provide financial assistance to Borrowers who are experiencing financial difficulty in meeting their mortgage obligations due to an unforeseen circumstance or an unexpected life event.
- Borrower Sale program - Targeted to assist in circumstances whereby the Borrower is not able to rectify their financial situation and it may be in their best interest to make the decision to sell their home as soon as possible. This decision may reduce or avoid any potential shortfalls by utilizing equity in their home and attaining the best possible sale price.
Borrower Sale enquiries
Claims and Collections
Key focus for the Claims Team is to ensure that Lenders submitted claims are adjudicated accurately and within the allocated Service Level Agreement.
Credit Risk policy
Underwriting Risk Leader
Phone: 02 8248 2581
Valuations Risk Manager
Phone: 02 8916 7238