DELEGATED WORKOUT PROGRAM

DELEGATED WORKOUT REPORTING

Servicers are required to report to Genworth all workouts decisioned as approved, failed or closed utilizing Genworth’s Servicer Delegated Program or any other Investor / Industry related delegated workout program (such as, but not limited to, the Fannie Mae/Freddie Mac Delegated Programs, HAMP or HAFA). Please note: Workout Reporting is a separate and different form of reporting from Delinquency reporting. Workout reporting provides Genworth the ability to track loss mitigation efforts and workouts being decisioned by Servicers under delegated authority. Workout reporting should be reported in one of the following applicable formats:
  • Mega & Large Servicers - Submit the MI Industry approved template to Genworth monthly. Access the template at miservicing.genworth.com.
  • Mid to Small Servicers – Use Genworth’s On-line Delegated Workout Reporting Tool to report workouts as they are decisioned loan-by-loan. For login credentials for the On-line Workout Reporting Tool, email action.center@genworth.com or call 800 444-5664.
For questions regarding which Workout Reporting format to use, please send an email to delegatedlossmit@genworth.com or call 800 261.2015.

FORECLOSURE POSTPONEMENT

  • Foreclosure Initiation Postponement: If a workout is in process, initiation of foreclosure may be delayed up to 30 days from the receipt of the workout package.
  • Foreclosure Sale Postponement: Servicer is delegated to postpone a foreclosure sale within 30 calendar days of the foreclosure sale to pursue reasonable loss mitigation or Workout opportunities.

SERVICER DELEGATED PROGRAM APPROVALS

If a Servicer has a program which falls outside the Genworth delegated program, the program specifics should be submitted in writing via email to delegatedlossmit@genworth.com for delegation consideration.

Secure Submission

Submit data to Genworth using our secure web application.
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