We understand many of you have questions about insurance coverage during the COVID-19 pandemic. Rest assured, loans in forbearance plans associated with COVID-19 may be eligible for rescission relief:
- If the COVID-19 forbearance occurred before a loan meets the minimum monthly payment requirements for rescission relief, the loan may still be eligible for rescission relief as long as all other payments outside the forbearance period met the minimum monthly payment requirement.
- We will not automatically rescind coverage or deny a claim for first payment default solely due to a COVID-19 forbearance plan.
It is important to note that servicers are required to notify Genworth that COVID-19 is the reason for forbearance in their required reporting to Genworth. All other Master Policy rights and terms remain the same.
See Servicing Bulletin 2020-4 for details.