Genworth U.S. Mortgage Insurance (USMI) presented United Federal Credit Union’s (UFCU) first mortgage underwriters with a Leadership Circle award. The designation was given to less than three percent of Genworth’s clients.
“The Leadership Circle award recognizes the best performers among our customers, and United Federal Credit Union’s commitment to quality helped them earn this honor,” said Jorge Caceres, director of customer solutions at Genworth USMI.
UFCU was selected for the award based on its historical loan performance, adherence to quality processes, and due diligence criteria. Due to the completeness of submissions and the quality of borrowers, UFCU received a first review approval of 68%. The average review approval is 35-40%.
“Genworth makes it easy to do business with them. Their turn time is excellent, they are willing to consider transactions that don’t meet the black and white criteria,” said Marie Juengling, mortgage loan underwriting manager at United Federal Credit Union. “They are willing to talk through a transaction with the underwriter rather than just deny it because it falls just outside of the guidelines.”
Leadership Circle award recipients receive exclusive special high-level training courses, which will allow UFCU underwriters to consult Genworth Financial regarding risk associated with particular mortgages. UFCU will also have the opportunity to listen in on industry related market intelligence calls from the mortgage insurance industry, keeping underwriters updated on upcoming regulation changes for 2014.
Genworth USMI is a unit of Genworth Financial, Inc., a Fortune 500 insurance holding company with headquarters in Richmond, Virginia.