Genworth Delivers More ‘Granular Approach’ to Mortgage Insurance Pricing

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In an effort to provide mortgage lenders with a more granular approach to mortgage insurance pricing, Genworth Mortgage Insurance has launched GenRATE, a proprietary risk-based pricing engine.

Lenders can opt-in to the new proprietary pricing solution or choose from Genworth’s standard published rate card, the company says.

Genworth says the new pricing engine is in response to demand from lender clients. Market research recently conduced by the firm uncovered that certain segments of lenders have begun seeking more dynamic pricing solutions.

“Demand for more dynamic pricing is growing, both in our industry and more broadly,” says Rohit Gupta, president and CEO of Genworth Mortgage Insurance, in a release. “Offering lenders the option of either rate card or risk-based pricing is the best way to show lenders that we understand and can continue to meet their evolving needs.”

GenRATE will be available to all lenders beginning December 10.

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