ATLANTA, April 21 /PRNewswire-FirstCall/ -- The Georgia Department of
Community Affairs announced today that it will partner with Genworth
Financial, Inc. (NYSE: GNW) to bring HomeOpeners(sm) MonthlyPlus to its
Georgia Dream Homeownership Program applicants. HomeOpeners(sm) MonthlyPlus
is a new monthly payment mortgage insurance product that offers peace of mind
to Georgia's first time home buyers in the event of involuntary unemployment
at no extra cost to the borrower. It also offers accidental death,
dismemberment or disability coverage at no extra cost to the borrower.
The new product, HomeOpeners(sm) MonthlyPlus, pays a borrower's Georgia
Dream mortgage obligation for up to six months in the event of involuntary
unemployment up to a maximum of $2,000 per month. The accidental death,
dismemberment and disability coverage under the HomeOpeners(sm) MonthlyPlus
pays up to a maximum of $12,000 per loan. Coverage applies during the first
five years of homeownership, as long as mortgage insurance is in effect, at no
additional cost to the borrower.
"Working with Genworth, we're able to offer this valuable extra level of
security to the home buying process," said Mike Beatty, Commissioner of the
Georgia Department of Community Affairs. "We are excited that here in Georgia,
HomeOpeners(sm) MonthlyPlus will be offered through Georgia Dream's
participating lenders. This will allow our participating lenders to
distinguish themselves in the marketplace by offering their customers a real
benefit at no additional cost."
"The Georgia Dream Homeownership Program coupled with HomeOpeners(sm)
MonthlyPlus provides below market interest rate mortgage financing, down
payment and closing cost assistance plus the added benefit of additional
protection against foreclosure in the event of involuntary unemployment or
serious injury," said Lewis Fain, Senior Vice President, Marketing and
Strategic Development of Genworth's U.S. mortgage insurance business. "We're
delighted to be working with the Georgia Department of Community Affairs to
help first time buyers and to expand homeownership in the state."
About Genworth Financial
Genworth (NYSE: GNW) is a leading insurance holding company, serving the
lifestyle protection, retirement income, investment and mortgage insurance
needs of more than 15 million customers, and has operations in 22 countries,
including the U.S., Canada, Australia, the U.K. and more than a dozen other
European countries. For more information, visit www.genworth.com .
To find out more information on Georgia Dream and HomeOpeners(sm)
MonthlyPlus contact Christie Cade at 404-679-4939 or ccade@dca.state.ga.us. or
Terry Souers of Genworth Financial at 919-846-4459.
SOURCE Genworth Financial, Inc.
CONTACT: Christie Cade, +1-404-679-4939, for Genworth Financial, Inc.
