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Genworth Financial's Excel™

We know that fast and reliable underwriting of mortgage default insurance applications is important to you. Genworth Financial's Excel™ is an advanced Automated Underwriting System which evaluates a mortgage application and returns a response in less than one minute. The system automatically approves a significant portion of the applications as acceptable risk, and you receive an automated mortgage default insurance commitment. In the remaining cases, applications are referred to our underwriters for a closer review.

We accept mortgage default insurance applications to Genworth Financial's Excel™ through the Internet, dedicated EDI links and all three mortgage broker systems (Morty, LSS and ECNI).

A property risk assessment module called OmniScore™ is at the heart of Genworth Financial's Excel™. OmniScore™ is a statistically based mortgage score produced by blending several factors including debt servicing information, credit bureau data and mortgage product type. Initially developed from the analysis of over a million mortgages, OmniScore™ has proven to be a powerful predictor of mortgage defaults. As a lender, you benefit from Genworth Financial's Excel™'s faster and more consistent decisions. Automated underwriting is the wave of the future for mortgage underwriting and we are pleased to be there for you with Genworth Financial's Excel™.

Automated Underwriting Service (AUS)

We know the mortgage underwriting process can be the major hurdle for lenders like you who aim to close loans quickly, at a low cost and with great customer service. Our Automated Underwriting Service ("AUS") eliminates the hurdle.

We first introduced our automated underwriting system, Genworth Financial's Excel™, in 1998 to underwrite mortgage default insurance applications. Since then, we have adapted Genworth Financial's Excel™ for conventional mortgage underwriting, available to lenders.

AUS streamlines the underwriting process - good quality loans are automatically approved and underwriters focus on the more complex loans that require a judgment call. In addition, AUS provides a lender with flexibility - the AUS decisions can be customized to suit the lender's products and policies. Canadian home buyers and lenders greatly benefit from faster approvals, more consistent decisions and increased underwriter productivity.

AUS consists of a property risk assessment module, risk guidelines and business rules. OmniScore™, a statistically based mortgage score, is at the heart of it all. OmniScore™ was initially developed from the analysis of over a million mortgages, and has proven to be a powerful predictor of mortgage defaults. The data elements used by OmniScore™ include debt servicing information, loan-to-value ratio, credit bureau data and mortgage product type.

Genworth has licensed its proprietary AUS for Canadian mortgages to Basis 100, a Canadian e-commerce company. The unique combination of Genworth's AUS and Basis 100's proprietary business rule engines represent the foundation for customization.

For further information on AUS, please contact Genworth.