Alert: Elimination of Quick Quote and File Submission

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Alert 09-10 Friday, January 30, 2009Genworth Financial Home Equity Access, Inc.formerly known as Liberty Reverse Mortgage, Inc.

Reminder: Elimination of Quick Quote is TODAY!
Genworth Financial Home Equity Access, Inc., formerly known as Liberty Reverse Mortgage, Inc. (Genworth), implemented a new calculator on December 18, 2008. All Broker Partners should be using the new calculator as access to Quick Quote will be terminated TODAY, January 30, 2009

What Happens To My Data In Quick Quote?Genworth will be able to access portions of the data after the full migration January 30, 2009, however; we will not be able to completely recreate all data fields available in the Quick Quote calculator. Please contact Broker Care if you have specific data needs.

An updated Broker Portal Training (Recorded Class), Information Sheet and How To Guide are posted on our Web site - genworth.com/reversepartner.Please contact Broker Care at (866) 871-1353 or brokerprogram@genworth.com with additional questions.

Changes to Submission Process
Genworth encourages our Broker Partners to submit a complete loan submission package whenever possible in order for us to provide expedited Underwriting approvals. Effective on all new loans submitted February 2, 2009, the cutoff time to be registered in the system is moving from 2 PM PST to 12 PM PST.

In order to improve the speed and efficiency of file setup, effective on all new loans submitted after February 2, 2009, Genworth is requiring Partners to use the updated Wholesale Submission Requirements Checklist (click here for checklist).
In addition to our minimum submission requirement for underwriting approval, we have outlined a way for you to play a role in how quickly your loans will be underwritten by submitting a file that meets clean submission requirements.
Submission requirements are outlined on the Wholesale Submission Requirements checklist:
· If all requirements for a clean file submission are met, the submitted loan will be underwritten with a preferred turn time (loan packages must be received by 12 pm PST). Note: Requirements must be met at initial delivery of the loan package.
· If the loan meets only the minimum submission requirement, the loan submitted will be accepted by Genworth and submitted to underwriting with standard turn time provided. Note: Additional items have been added to the minimum submission requirements
If the loan package does not meet our minimum submission requirements, the loan will not be accepted and/or submitted to Underwriting until all items necessary to meet minimum submission requirements are met.

Updated Doc Draw Request Form
Effective immediately, Genworth has updated our Doc Draw Request Form (click here for sample) to ensure closing documents are drawn consistently, accurately and minimize re-draws. This will allow Genworth to ensure we deliver accurate documents in a timely manner.
The Doc Draw Request form will be emailed to you with the Final Loan Approval from underwriting on each loan. Please do not submit a Doc Draw Request prior to Final Approval from underwriting.
Please contact Broker Care at (866) 871-1353 or brokerprogram@genworth.com with additional questions.