Home Suite Home
Genworth Mortgage Insurance, an operating segment of Genworth Financial, announced the launch of Home Suite Home, a borrower benefit program designed to help preserve borrowers’ financial stability when faced with unexpected, non-recurring homeownership costs.
Upon the closing of a mortgage loan with a participating Lender, eligible borrowers who register for Home Suite Home can select one of three benefits free of charge: appliance home warranty for 12 months, homeowners insurance deductible reimbursement up to $1k for 60 months, limited to two claims per year, or identity theft reimbursement & restoration services up to $1m for 60 months. Insurance is underwritten or provided by a third-party vendor, which may or may not be the following companies: American Bankers Insurance Company (Assurant), Voyager Indemnity Insurance Company (Assurant), and National Product Care Company (The Warranty Group).
“Higher home prices and interest rates have a direct effect on a borrower’s monthly mortgage payments, making it more difficult for them to absorb unexpected or non-recurring costs associated with homeownership. For years, we’ve played a significant role in helping borrowers become homeowners. Now, with innovative products like Home Suite Home, we’re not only able to help them stay in their homes, but also maintain financial peace of mind by defraying some of the unexpected costs of homeownership.” – SVP of customer solutions at Genworth Mortgage Insurance, Kevin McMahon.