Lenders Mortgage Insurance products
Our products demonstrate our ability to tailor solutions for our customers
Genworth is committed to being the leading provider of capital and risk management solutions for the residential mortgage market. We offer a suite of insurance offerings that can be tailored to meet our lender customers’ specific needs.
Our offerings include:
- Traditional LMI
- Portfolio LMI
- Bespoke structured capital and risk management solutions.
Traditional LMI cover
Our traditional LMI offering assists lender customers to reduce the risks and costs associated with higher loan to value ratio (LVR) lending (generally less than 20 per cent deposit).
It protects lenders in the event that a borrower defaults on a home loan and there is a shortfall in the loan after applying the sale proceeds from the secured property.
Portfolio LMI cover
Genworth provides portfolio LMI cover for lender customers looking to insure a pool of loans at the same time. Portfolio LMI is generally purchased by the lender to cover lower LVR loans (greater than 20 per cent deposit) that were originated more than six months earlier. Portfolio LMI is commonly used for credit enhancement on a securitisation transaction, or for other risk transfer and capital purposes.
Bespoke structured capital and risk management solutions
Genworth can structure bespoke risk management solutions providing tailored portfolio cover across both high and low LVRs that meet a lenders specific risk management need. Genworth's insurance entity based in Bermuda provides our customers with access to global reinsurance markets that may be otherwise unavailable.
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