The GSEs have released updated guidance related to COVID-19. Genworth will continue to align in support of the GSEs’ temporary measures and flexibilities as communicated in the updated announcements.
These additional temporary flexibilities are effective for loan applications dated on or before May 17, 2020. Some the updates include appraisal flexibility updates, condominium project reviews, and renovation mortgage updates. These changes apply for all Genworth insured loans: Simply UnderwriteSM, Standard, and Peak PortfolioSM Guidelines.
For details and resources, read Credit Policy Bulletin 2020-05.