Genworth Financial Launches Realtor Initiative For Latinos.

Genworth Financial is reaching out to Hispanic realtors to help create more Hispanic homeowners throughout the United States. The company recently announced the expanded initiative at the 2005 National Association of Hispanic Real Estate Professionals (NAHREP) Marketing Convention and Expo in New York City from October 14-17, 2005.

All convention attendees received a new bi-lingual realtor kit designed to help realtors and lenders serve their Hispanic customers better. Prepared by Genworth’s mortgage insurance business, the kit contains information on the Hispanic market opportunity and how “to turn more Hispanic prospects into clients” by using mortgage insurance to make mortgage loans possible for buyers who cannot make the traditional 20% down payment.

Also included is information on “Tu Casa Ahora (Your Home Now),” Genworth’s Spanish-language website that provides step-by-step information about the home buying process, as well as valuable discounts and offers. The site also provides links to lenders that are familiar with the needs of the Hispanic community and offer Spanish language service.

Genworth is sending all NAHREP realtors nationwide on-line copies of educational materials in the kit that can be personalized and sent to potential clients.

“Genworth understands the important role realtors play in the Hispanic home-buying process and wants to help them maintain long-term relationships with their clients,” said Jorge Caceres, Director of Emerging Markets for Genworth Financial’s mortgage insurance business. “We’re providing them with options that not only help their consumers overcome some of the barriers to homeownership, but also provide safe options without dangerously fluctuating rates.”

In addition to launching the realtor kit, Genworth provided training for the NAHREP local chapter presidents and leadership on the impact of rising interest rates in today’s real estate market, including the effect on various low down payment loan products. The company also offered one-on-one training sessions on this important topic to realtors in attendance at NAHREP.

“We believe that giving realtors insights into the latest in industry trends and tools will make their job easier,” said Caceres. “We want to help them serve more Latino customers and increase homeownership among the nation’s largest minority group.”

At the convention, Genworth specifically addressed how the new interest rate environment can affect various low down payment and low monthly payment mortgage products that have become increasingly popular in recent years, and what that means for Hispanic homebuyers. These “exotic” products, as Federal Reserve Chairman Alan Greenspan now calls them, were developed for specific homebuyers who had sufficient savings and income to afford an unexpected spike in their monthly mortgage payments.

“Genworth believes in empowering the Hispanic community through education by providing information to help consumers make smart decisions in order to help achieve the dream of homeownership without taking unneeded risks,” said Caceres. “Mortgage insurance allows families who struggle with down payment requirements to purchase a home with little or no money down and begin building equity, without taking on the risk of rising home payments.”

“At NAHREP, we strive to empower the Hispanic real estate professional to help us in our goal of constantly increasing Hispanic homeownership,” said Frances Martinez Myers, NAHREP Chairman. “We are proud to have Genworth Financial supporting us in our mission through its contribution but most importantly its commitment to developing customized programs that benefit our constituents.”

In addition to the information presented at the NAHREP convention, realtors can also utilize Genworth’s www.TuCasaAhora.com to teach their clients about the benefits of mortgage insurance and direct them to some of the nation’s best lenders that offer special packages exclusive to “Tu Casa Ahora” program participants in the language of their choice. Among the latest lenders added to the program are CitiMortgage and Wachovia.

As a part of its commitment to closing the gap in Hispanic homeownership, Genworth Financial also is implementing an integrated Hispanic marketing campaign to promote TuCasaAhora.com and the benefits of mortgage insurance. The campaign includes advertising, media and community relations and event marketing. In September 2005, Genworth participated in the 26th Annual United States Hispanic Chamber of Commerce Convention and Business Expo in Milwaukee, and is currently present at Expo Tu Casa, Chicago to provide Chicago’s Spanish speaking community with information on the various programs and products that can make their dream of homeownership a reality.