Genworth Financial (NYSE: GNW) reported strong fourth quarter earnings of $107 million, up from a $161 loss in the fourth quarter of 2010 and beating analysts’ estimates. Earnings per share were 22 cents compared with a loss of 33 cents in the fourth quarter of 2010. In its quarterly report, Genworth noted the move away from [...]

Genworth Financial Home Equity Access (GFHEA) announced this week it has hired former MetLife reverse mortgage account manager Bob Garczewski to cover its midwest wholesale region. Garczewski, who has more than eight years of experience in reverse mortgages, will serve under the title Regional Account Manager. “Bob brings a wealth of reverse mortgage knowledge and experience [...]

MetLife (NYSE:MET) and Genworth (NYSE:GNW) may not be the only insurance powerhouses in the reverse mortgage business in 2012. While there have been rumors floating around for the last few months that New York Life, one of the largest mutual life insurance companies in the United States, was looking to enter the space, a new job opening [...]

Genworth Financial Home Equity Access has reintroduced adjustable rate HECM Standard and Saver product offerings, which it temporarily cut last week from its wholesale channel. GFHEA informed its wholesale partners of the change today via an email obtained by RMD. Last Wednesday, the company announced it was temporarily suspending those product offerings, “until market conditions [...]

In case you missed it, it was an eventful week for reverse mortgage providers. Genworth cut several HECM product offerings. Genworth Financial Home Equity Access (GFHEA) announced late Wednesday it is temporarily eliminating a range of reverse mortgage products offered through its wholesale and correspondent channels, including adjustable rate HECMs (both the Standard and Saver) [...]

Genworth Financial Home Equity Access (GFHEA) is temporarily eliminating a range of reverse mortgage products offered through its wholesale and correspondent channels, the company announced late Wednesday night in an email to customers that was obtained by RMD. The products include adjustable rate HECMs (both the Standard and Saver) as well as fixed rate HECM [...]