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Loan Modification

: Mortgage Lender Implode-o-Meter

Genworth Insures Unemployed Flagstar Borrowers Against Mortgage Default

By Implode-Explode Heavy Industries

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"Mortgage originator and savings bank, Flagstar (FBC: 0.6857 +2.65%) implemented a new job-loss insurance plan last week in order to cover mortgage payments in the event of involuntary unemployment on the part of the borrower. Flagstar, with $14bn in total assets as of year-end 2009, said the program is available at no charge with insurance being provided by Genworth Financial (GNW: 18.29 -0.11%)."

Full post as published by Mortgage Lender Implode-o-Meter on April 12, 2010 (boomark / email).

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