Genworth Financial Inc.'s mortgage insurance business reports that it is implementing changes to fully support the expanded Home Affordable Refinance Program (HARP).
‘Genworth is committed to helping more homeowners take advantage of the HARP refinance opportunity,’ says Rohit Gupta, chief commercial officer for Genworth Mortgage Insurance. ‘We are proud to participate in this initiative and believe it is another important step on the road to housing recovery.’
The changes announced by Genworth Mortgage Insurance will meet or exceed the additional HARP program details published Tuesday, Genworth says. A comprehensive description of the changes being introduced by the company will be available in Genworth Mortgage Insurance's underwriting guidelines on or prior to Dec. 1.
According to Genworth, it has helped more than 26,000 borrowers reduce their mortgage payment by an average of almost $200 a month since HARP's introduction in 2009.