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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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Presentation on theme: "Foundational Legal Issues In Housing Finance Investing April 11, 2013 ©2013 Genworth Financial, Inc. All rights reserved."— Presentation transcript:

1 Foundational Legal Issues In Housing Finance Investing April 11, 2013 ©2013 Genworth Financial, Inc. All rights reserved.

2 1Presentation 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

3 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 A FORTUNE 500  company More than 3.5 Million Mortgage Insurance policies All figures as of December 31, 2012 except volunteer hours as of December 31, Presentation to APUHF

4 Genworth’s Global MI Thought Leadership Sweden USA UK New Zealand Spain  South Korea IrelandMexicoItaly FinlandIndiaHong KongGermany AustraliaChinaCanada Brazil 3 Operating platforms or representative offices Presentation to APUHF

5 What Legal Environment Are Housing Finance Investors Looking For? 4 Presentation to APUHF

6 Fundamental Legal Issues Rule of Law And Transparency Mortgage Market Infrastructure & Information Banking Regulation Efficient Foreclosure Title And Registration System 5

7 Case Study On India 6 Presentation to APUHF

8 Fundamental Legal Issues – India Rule of Law And Transparency Mortgage Market Infrastructure & Information Banking Regulation Efficient Foreclosure Basel III Adopted Rules In Place For Securitization And Covered Bonds Foreign 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 7


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