Genworth Financial Says Number of Loans Eligible for MI Modification Will Jump Under...

Genworth Financial Says Number of Loans Eligible for MI Modification Will Jump
Under New Guidelines for Making Home Affordable Program Refinancing

RALEIGH, N.C., July 14 /PRNewswire-FirstCall/ -- Genworth Financial, Inc.
(NYSE: GNW) said today that the recent decision by the Obama Administration to
expand eligibility for its Making Home Affordable program will make an
estimated 44% additional loans covered by its U.S. mortgage insurance business
eligible for modification in connection with the borrower's refinancing. In
all, nearly 530,000 loans will be eligible for modification.

The new government eligibility guidelines allow borrowers current on their
payments and with a maximum loan-to-value (LTV) ratio of 125% to refinance
their loans under the Administration's Home Affordable Refinance Program
(HARP). Previously, the program's LTV limit was 105%. Existing MI coverage
on these loans would be concurrently modified.

"Increasing the LTV ceiling for the Home Affordable program will allow us, and
others in the industry, to help many more borrowers refinance into a loan they
can afford. That's especially important in states that have been hardest hit
by home price declines," said Mark Goldhaber, senior vice president,
Affordable Housing & Government Business Development for Genworth's U.S.
mortgage insurance business. "Genworth is proud to support this program, and
we look forward to helping as many families as possible stay in their homes."

According to Genworth, the new guidelines will make an additional 65% of its
insured loans in the hard hit "Sand States" (Arizona, California, Florida and
Nevada) eligible for modification.

Genworth implemented the government's Making Home Affordable programs soon
after they were announced. Early data show mortgages it insures that were
refinanced under HARP had an average 1.5 point interest rate decrease, and an
average 13.5 % monthly mortgage payment decrease.

About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial
security company. Genworth has more than $100 billion in assets and employs
approximately 6,000 people with a presence in more than 25 countries. Its
products and services help meet the investment, protection, retirement and
lifestyle needs of more than 15 million customers. Genworth operates through
three segments: Retirement and Protection, U.S. Mortgage Insurance and
International. Its products and services are offered through financial
intermediaries, advisors, independent distributors and sales specialists.
Genworth Financial, which traces its roots back to 1871, became a public
company in 2004 and is headquartered in Richmond, Virginia. For more
information, visit Genworth.com. From time to time Genworth releases
important information via postings on its corporate website. Accordingly,
investors and other interested parties are encouraged to enroll to receive
automatic email alerts and Really Simple Syndication (RSS) feeds regarding new
postings. Enrollment information is found under the "Investors" section of
Genworth.com.

SOURCE Genworth Financial, Inc.

Terry Souers of Genworth Mortgage Insurance, +1-919-846-4459,
terry.souers@genworth.com