""NAFCU Services Corporation"":http://www.nafcu.org/nafcuservices/ has announced the renewal of an agreement with the organization's Preferred Partner, ""Genworth Financial's"":http://www.genworth.com/ U.S. ""Mortgage Insurance (USMI)"":http://mortgageinsurance.genworth.com/ division.
[IMAGE]The group recently confirmed USMI's partnership status, effectively extending the designation granted to USMI in 2011.
[COLUMN_BREAK]The Preferred Partner initiative, which is designed to provide mortgage insurance and other offerings to the 800-plus credit unions affiliated with NAFCU, is awarded to a single service provider. USMI was chosen for the role based on a ""rigorous review process,"" as conducted by executives from NAFCU's credit unions.
""When selecting a Preferred Partner for private mortgage insurance, capital is an important element, along with the provider's history, knowledge and experience with the credit union community. Genworth met our stringent requirements, and we're pleased to continue our relationship with them,"" said David C. Frankil, president of NAFCU Services Corporation.
USMI's senior vice president of commercial operations, John Clifford, added his thoughts, noting, ""In recent years credit unions have experienced dramatic growth in their membership as well as their level of mortgage loan originations.
""Genworth's suite of services and dedicated team of knowledgeable professionals can help credit unions serve their members' mortgage needs,"" added Clifford.