Foundational Legal Issues In Housing Finance Investing April 11, 2013 ©2013 Genworth Financial,...
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Foundational Legal Issues In Housing Finance Investing April 11, 2013 ©2013 Genworth Financial, Inc. All rights reserved.
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Transcript of Foundational Legal Issues In Housing Finance Investing April 11, 2013 ©2013 Genworth Financial,...
Foundational Legal Issues In Housing Finance InvestingApril 11, 2013
©2013 Genworth Financial, Inc. All rights reserved.
2Presentation to APUHF
Agenda
Brief Introduction To Genworth
What Legal Environment Are We Looking For As Housing Finance Investors?
India and IMGC As A Case Study
Presentation to APUHF
Genworth Financial, Inc.’s Key Statistics
Dating back to 1871 with 141 years underwriting
experience
More than 15 Million
Consumers
Over 23,700 Volunteer
Hours
Global Presence(Over 25 Countries)
Approximately 6,300 Employees
Total Revenues of $10.0 Billion
Total Assets of $113.3
Billion
AFORTUNE
500 company
More than 3.5 MillionMortgage Insurance policies
All figures as of December 31, 2012 except volunteer hours as of December 31, 2011
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Genworth’s Global MI Thought Leadership
Sweden USAUK
New Zealand
Spain
South Korea
Ireland MexicoItaly
Finland IndiaHong KongGermany
Australia ChinaCanadaBrazil
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Operating platforms or representative offices
Presentation to APUHF
What Legal Environment Are Housing Finance Investors Looking For?
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Presentation to APUHF
Fundamental Legal Issues
Rule of Law And Transparency
Mortgage Market Infrastructure & Information
Banking Regulation
Efficient Foreclosure
Title And Registration System
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Presentation to APUHF
Case Study On India
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Presentation to APUHF
Fundamental Legal Issues – India
Rule of Law And Transparency
Mortgage Market Infrastructure & Information
Banking Regulation
Efficient Foreclosure
Basel III AdoptedRules In Place For Securitization And Covered BondsForeign Direct Investment Allowed, But Capped In Mortgage Guarantee Companies
Borrower Credit Records Generally Available To Lenders Appraisal Industry Is Regulated And Widely Used Property And Casualty Insurance – Some Lenders Mandate Home Price Data Publicly Tracked By Residex (NHB)
Excellent Indian Attorneys Corruption A Major Source Of Concern For Indian Public
Title And Registration System
National Title Registration System Started Title Insurance Company Founded, But Not Widely Used Yet Able To Verify Ownership, But Can Still Be Challenging
SARFAESI (2002) – Non-Judicial Process Average Time Is 6 – 12 Months Widely Used, But Some Pre-2002 Loans Still In Market
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