Genworth Canada's Excel™
We know that fast and reliable underwriting of mortgage default insurance applications is important to you. Genworth Canada's Excel™ is an advanced automated underwriting system which evaluates an application and returns an underwriting decision in less than one minute.
First introduced in 1998, Genworth Canada's Excel™ streamlines the underwriting process. A significant portion of applications are automatically approved and an automated mortgage default insurance commitment is issued. In the remaining cases, underwriters focus on the more complex loans that require further review.
Genworth Canada's Excel™ automated underwriting system consists of a property risk assessment module, risk guidelines and business rules. At the heart of Genworth Canada's Excel™ is a risk assessment module called OmniScore™, which is a statistically based proprietary 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 Canada Canada's Excel™'s faster and more consistent decisions.
We accept mortgage default insurance applications in to Genworth Canada's Excel™ through our web based portal “Internet Excel”, dedicated system to system links with all major mortgage lending institutions and all mortgage broker systems.
For further information on Genworth Canada's Excel™, please contact Genworth.