The Real Deal Miami

Mortgage insurer arranges over 500 “workouts”

May 30, 2008 12:56PM

Mortgage insurer Genworth Financial arranged more than 548 “workouts”
in Florida to help homeowners avoid foreclosures over the 12 months
that ended in March. Typical negotiations have included increasing the
term of mortgage payment from 30 to 40 years and arranging short-sales
in which the lender agrees to take a loss.