Master Policy Resources

The FHFA in conjunction with Fannie Mae and Freddie Mac has completed work with the MI industry to implement the new Master Policy for mortgage insurance applications received on or after October 1, 2014. The new Master Policy provides a much greater degree of process transparency and clarity of coverage. However, as will be the case wit all MI provider Master Policies, we anticipate there will be impacts to established processes and systems primarily affecting Servicing operations.

Our goal is to make the transition to the new Master Policy as simple as possible. The Master Policy resource center is intended to provide you with a central location to access a range of implementation resources including sample policy documentation, implementation considerations, operating guides, and reporting requirements for the new Master Policy.

We recommend bookmarking this page as we will continue to provide updates and additional materials throughout the implementation phase.

Master Policy Resources

Implementation Resources

Master Policy and Endorsement Samples

Servicing and Operating Guides (Effective with new Master Policy)

Servicer Reporting

The new Master Policy requires monthly reporting for both performing and delinquent loans. In recognition of the operational changes the monthly reporting provisions may bring about, we are planning for a phased in approach for the new requirements. Genworth will not require the new reporting to be delivered on Day One, but rather Servicers will only be required to provide a minimum data set (as highlighted in green in the MILAR reporting template or Minimum Data Set template), beginning July 1, 2015.

The Mortgage Insurance companies have created a uniform, updated template for reporting monthly loan activity. This template should be used by Servicers with Delegated Workout Authority or those with a large volume of workout activity to report.

Servicers who do not currently take advantage of Delegated Workout Authority or do not currently use the full MILAR template can opt to use the abbreviated Minimum Data Set template which contains only 32 fields to meet the reporting requirements.

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Mortgage Insurance discussed in this website is underwritten by either Genworth Mortgage Insurance Corporation, Genworth Residential Mortgage Insurance Corporation of North Carolina or Genworth Residential Mortgage Assurance Corporation.
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