Genworth Competitive Analysis of Mortgage Insurance Guidelines
Snapshot as of September 9, 2008
Information provided in this analysis was derived from various publicly available sources, including industry, rating agency, and
lender publications. While Genworth believes it is accurate as of the date of its preparation, you may want to verify its accuracy
Change/Competitor Genworth
100% LTV LTV >97% = Ineligible
Affordable Housing Only - Min FICO
LTV 95.01 - 97%
= 680 - First-time homebuyer
Max CLTV / TLTV / HCLTV = Product / Program Max LTV
< 620 ineligible regardless of
Minimum FICO
LTV/AUS
Maximum DTI Standard = 45% / GSE AUS = 55%
Loan Amount > $417,000 eligibile in
HUD High-cost areas - Max 90% w/
Loan Amount > $417,000
Min FICO = 700 -
Additional restrictions apply
Nontraditional Credit LTV > 90% = Ineligible
Max LTV = 90% w/ Min FICO = 720 -
Investment Property
Additional restrictions apply
Max LTV = 95% w/ Min FICO = 680 -
Second Homes
Additional restrictions apply
Max LTV = 90% w/ Min FICO = 680
Cash Out Refinance regardless of AUS - Primary 1 Unit
only
Max LTV/CLTV 95% - Primary
Rate & Term Refinance
Residence only
Information provided in this analysis was derived from various publicly available sources, including industry, rating agency, and lender publications. While Genworth believes it is accurate as of the date of its preparation, you may want to verify its accuracy
© 2008 Genworth Financial, Inc.
All Rights Reserved. This document may not be reused or redistributed without express permission by Genworth Financial, Inc.
independently.
MGIC
Effective November 1, 2008
Effective October 1, 2008
Standard A Guidelines and Changes
LTV/CLTV > 97% = Ineligible
First Time Homebuyer only - Min
FICO = 700 - Additional Restrictions
apply
= Product / Program Max LTV
<620 ineligible regardless of
LTV/AUS
Standard = 45% / GSE AUS = 55%
$417,000 - $650,000 (or GSE Conf
Jumbo Limit) - Max LTV = 90% w/
Min FICO = 700 on Primary 1 Unit
only / Max LTV = 95% w/ Min FICO
= 680 on 2 Unit Primary < $533,850
Max LTV = 95% & MGIC manual
underwrite
Ineligible
Max LTV = 95% w/ Min FICO = 680 -
Max Loan Amount = $417,000
Max LTV = 90% w/ Min FICO = 680
regardless of AUS - Primary - 1 Unit
only
Max LTV/CLTV = 95%
UG
LTV > 97% = Ineligible
Affordable Housing Only - Min FICO
= 700 - Additional Restrictions Apply
= Product / Program Max LTV -
CLTV ineligible with Purchase or
Cash Out Refinance
< 620 ineligible regardless of
LTV/AUS
Fixed & ARM > 5 Years = 33/38% -
ARM Term < 5 Years = 28/36% /
GSE AUS - 55%
$417,000 - $650,000 - Max LTV =
90% w/ Min FICO = 700 on Primary
1 Unit only / Max LTV = 90% w/ Min
FICO = 680 on 2 Unit Primary <
$533,850 / Conf Jumbo Additional
Restrictions
LTV > 90% = Ineligible - Additional
Restrictions Apply
Ineligible
Ineligible
Max LTV = 90% w/ Min FICO = 720
on Primary 1 Unit only < $417,000 -
Listed for Sale prior 12 months =
ineligible
Max LTV/CLTV = 95%
independently.
Radian
LTV/CLTV > 97% = Ineligible
Min FICO = 680
= Product / Program Max LTV
< 620 ineligible regardless of
LTV/AUS
Full Doc Prime = 41% (Varies) / Full
Doc Non-Prime = 50% - GSE AUS -
As per findings w/ additional
restrictions
Multiple levels based on purpose,
occupancy , LTV, FICO
Max LTV = 95% - Radian to
underwrite
Ineligible
Max LTV = 95% w Min FICO = 700
Max LTV = 90% w Min FICO = 660
Max 90% LTV w/ FICO >= 660 -
Regardless AUS / 2nd home Min
FICO = 680 / Investment Min FICO
= 720
Max LTV/CLTV = 97%
RMIC
Effective October 1, 2008
LTV > 97% = Ineligible
Min FICO = 720
= Product / Program Max LTV
< 620 ineligible regardless of
LTV/AUS
Standard = 33/41% /
GSE AUS = 55%
$417,000 - $729,750 - Max LTV =
90% LTV w/ Min FICO = 700 on
Primary 1 Unit only - Additional
Restrictions Apply
Max 95%LTV - Class IV A Minus
Rates (< 575) -RMIC Manual UW
Max LTV = 90% w/ Min FICO = 720
- Purchase Only - Condominium
ineligible
Max LTV = 95% w/ Min FICO = 680 -
Ineligible for Easy IQ2® submission
Max LTV = 90% w/ Min FICO = 680 -
Investment and 2nd Home =
Ineligible - Condominium - Ineligible
Max LTV/CLTV = 95% -
Max LTV/CLTV = 97%
Condominium - Ineligilble
PMI
Effective October 1, 2008
LTV > 97% = Ineligible
DU 7.0 - 580 / LP or Manual UW =
680
= Product / Program Max LTV
DU 7.0 = 580 / LP or Manual = 620
Standard = 45% / GSE AUS = As
per findings
$417,000 - $650,000 - Max LTV =
90% LTV w/ Min FICO = 700 on
Primary only - $650,000 - $729,750 -
HUD High cost Only
Max LTV = 95%
Max LTV = 90% w/ Min FICO = 720 -
Purchase Only - 1 or 2 Unit
Max LTV = 90% w/ Min FICO = 660
/ Loan Amt > $417,000 = ineligible /
Cash Out = ineligible
Max LTV = 90% w/ Min FICO = 680 -
2nd Home and Investment =
ineligible
 Genworth Competitive Analysis of Mortgage Insurance Guidelines
Information provided in this analysis was derived from various publicly available sources, including industry, rating agency, and
lender publications. While Genworth believes it is accurate as of the date of its preparation, you may want to verify its accuracy
Change/Competitor Genworth
Appraisal Requirements Full Interior/Exterior
AUS Approve/Eligible or Accept -
As Indicated - Non-AUS = 2 Months
Reserve Requirements - Primary Residence
Primary or Second / 6 Months for
Investment
Interest Only Ineligible
2 Unit Properties Ineligible
3-4 unit Properties Ineligible
Max LTV = 90% - Investment
Condominiums
Property = Ineligible
Max LTV 90% w/ Min FICO = 660
Manufactured Homes
regardless of AUS
Standard A only - Min FICO = 680 -
Full Doc - Primary SFR only (no
Construction Permanent Financing
Manufactured) - Commitment Term
= 12 Months
Principal Residence Conversion has
Notes and other comments
additional guideline restrictions /
Loans w/ reduced doc, except as
determined by DU/LP ineligibile
DU EA Level / LP Caution A Minus Ineligible
Maximum LTV Ineligible
Minimum FICO Ineligible
A Minus Second Home, Investment Property,
Ineligible
3-4 Unit, & Manufactured Home
A Minus Cash Out Ineligible
Information provided in this analysis was derived from various publicly available sources, including industry, rating agency, and lender publications. While Genworth believes it is accurate as of the date of its preparation, you may want to verify its accuracy
© 2008 Genworth Financial, Inc.
All Rights Reserved. This document may not be reused or redistributed without express permission by Genworth Financial, Inc.
Snapshot as of September 9, 2008
independently.
MGIC
Effective November 1, 2008
Effective October 1, 2008
Standard A Guidelines and Changes
No Guidance Found
FICO < 720 = 2 Months
Max LTV = 95% w/ Min FICO = 680
/ Second Home Max LTV = 90%
2 Unit = Max 95% w/ 680 FICO
Ineligible
Max LTV = 97% - Non-warrantable
and Condotels ineligible - Additional
restrictions apply
Max LTV = 90%
Max 95% - Primary 1 Unit only - Min
FICO = 700 / Commitment Term =
12 Months / Premium due from
Construction close date
Loans w/ reduced doc, except as
determined by DU/LP ineligibile
A Minus Guidelines and Changes
EA I, II, III Only w/ DU 7.0 / LP
Caution w/ LP 5.0
95%
LTV > 95% = 680 / LTV< 95% =
620
May be eligible subject to MGIC
Standard guideline overlays
Ineligible
UG Radian
Full Interior/Exterior Full Interior/Exterior
AUS = as indicated / Non-AUS = 2
2 Months months / > $650,000 = 6 months
per prop or $50,000 equity per prop
Max LTV = 97% w/ AUS
Ineligible Approve/Accept - Max 95% w/o
AUS
Ineligible 2 Unit = Max 97% w/ 680 FICO
Ineligible 3-4 Unit = Max 90% w/ 660 FICO
Max LTV = 90% - Additional
Max LTV = 97%
Restrictions Apply
Max LTV = 95% /w AUS -
Ineligible
Max LTV = 90% w/o AUS
Max 95% - Primary 1 Unit only - Min Max 97% - Primary & Second Home
FICO = 700 - Additional Restrictions - 1 - 2 Unit - Commitment Term =
Apply 120 days
Loans to Borrowers with Commitment Term = 120 days for
Foreclosure, Deed-in-lieu of all products/programs / Pre-
Foreclosure, & Short Sale are Approval / Pre-qualification must
ineligible for MI have valid subject property address
EA I, II, III Only w/ DU 7.0 / LP
Ineligible
Caution A Minus
Ineligible 95%
Ineligible Min FICO = 660
Ineligible Ineligible
Ineligible Ineligible
independently.
RMIC
Effective October 1, 2008
Streamlined/Alternative Appraisals
Allowed
AUS = as indicated / Manual - FICO
< 720 = 2 Months / All > $417,000
Primary require 2 months
Max LTV = 95% w/ Min FICO = 680
2 Unit = 95% LTV w/ 680 FICO &
Max Loan amount = $533,850
Ineligible
Max LTV = 90% - Non-warrantable
Condo's - ineligible - Additional
Restrictions apply
Ineligible
Min FICO = 700 - Max LTV = 95% -
1 Unit Primary only - Commit term =
12 months
Loans to Borrowers with multiple
bankruptcy filingsin previous 10
years are ineligible for MI / Loans w/
reduced doc, except as determined
by DU/LP ineligible effective
November 1, 2008
EA I, II, III Only w/ DU 7.0 - All
others = Ineligible
97%
LTV > 95% = 720 / LTV< 95% =
620
May be eligible subject to RMIC
Standard guideline overlays
May be eligible subject to RMIC
Standard Guideline overlays
PMI
Effective October 1, 2008
As Per AUS or Full Interior/Exterior
AUS - As indicated / FICO > 720 -
reserves may be waived - Primary &
2nd Home = 2 Months - Investment
= 6 months
Max 95% w/ Min FICO =-680 -
Investment, > 2 Units, Cash Out =
Ineligible
2 Unit = Max 90% w/ 620 FICO
Ineligible
Max LTV = 97%
Max LTV = 90% / Cash Out =
Ineligible / Max Loan Amt =
$417,000
Primary & 2nd Home - Standard A -
Commitment Term = 12 months -
no Manufactured
Principal Residence conversion
policy has additional overlays to
Fannie 08-16
EA I, II, III Only w/ DU 7.0 - All
others = Ineligible
97%
LTV > 95% = 680 / LTV< 95% =
620
May be eligible subject to PMI
Standard Guidelines
May be eligible subject to PMI
Standard Guidelines
 Genworth Competitive Analysis of Mortgage Insurance Guidelines
Snapshot as of September 9, 2008
Information provided in this analysis was derived from various publicly available sources, including industry, rating agency, and
lender publications. While Genworth believes it is accurate as of the date of its preparation, you may want to verify its accuracy
independently.

Change/Competitor Genworth MGIC UG Radian RMIC PMI

Effective November 1, 2008
Effective October 1, 2008 Effective October 1, 2008 Effective October 1, 2008
Declining/Distressed Markets Guidance and Policies
OFHEO Declining Markets (Quarter
OFHEO Declining Markets (Quarter Specific MSA's - Level 1 = 15 Mkts /
Declining/Distressed Market List Specific MSA's Specific MSA's Specific MSA's over Quarter < -1% or Year over
over Quarter) Level 2 = 41 Mkts Plus CA
Year < 0% HPA)

AZ, CA, FL, NV - specific CA = Level 2 - Min FICO = 720,

AZ, CA, CT, DE, FL, MI, NJ, NV,
Whole State subject to policy restrictions apply to whole state None None None Max Loan Amt = $417,000, Max DTI
OH
= 45%

Appraisal indicates Declining/Distressed Declining/Distressed Policy applies

Declining/Distressed Policy applies Declining/Distressed Policy applies Declining/Distressed Policy applies Declining/Distressed Policy applies Declining/Distressed Policy applies
Market at Level 1

90%
Max LTV in Declining Affordable Housing 95% except in
AZ, CA, FL, NV = 90%
90%
92% / 95% when meeting
Affordable Housing 95% except in 90% 95% Level 1 = 95% - Level 2 = 90%
Enhanced Guidelines
AZ, CA, FL, NV = 90%

All LTV's Min FICO = 620 / CA Min

FICO Requirements All LTV's Min FICO = 680 All LTV's Min FICO = 680 All LTV's Min FICO = 680 90.01 - 95% = 680 / < 90% = 620 All LTV's Min FICO = 680
FICO = 720

Level 1 = Reduce to 95%

Reduce Program Max 5% No No No Yes Yes
Level 2 = Reduce 5% w/ Max 90%

A Minus Ineligible Max LTV = 90% Ineligible Max LTV = 90% Max LTV = 92% (DU 7.0 only) DU 7.0 EA I & EA II only

Cash Out Ineligible Ineligible Ineligible Ineligible Ineligible Ineligible

Investment Ineligible Ineligible Ineligible Ineligible Ineligible Ineligible

LTV > 90% - Ineligible - Condo's

LTV > 90% - Ineligible / All Attached LTV > 90% - Ineligible / All Condo's LTV > 85% - Ineligible / All Attached Reduce Program Max 5% - Condo's
Condo's Condo's and Coops - Ineligible ineligible in Miami/Dade and
Housing in FL is ineligible in FL regardless of LTV Housing in FL is ineligible ineligible in 8 MSA's in FL
Broward County, FL

Max LTV = 95% w/ AUS

Interest Only Ineligible Ineligible IO ARM < 5 Yr or IO period < 10 YR Max LTV = 90% Reduce Program Max 5%
Max LTV = 90% w/o AUS

Nontraditional Credit Ineligible No additional restrictions Ineligible Max LTV = 90% Ineligible Reduce Program Max 5%

$417,000 - $650,000 (or GSE Conf

Loan Amount > $417,000 eligibile in
HUD High-cost areas - Max 85% w/
Loan Amount
Min FICO = 700 -
Additional restrictions apply
Jumbo Limit) - Max LTV = 90% w/ $417,000 - $729,750 - Max LTV = $417,000 - $650,000 Max 90% w/
$417,000 - $650,000 Max 90% w/
Min FICO = 700 on Primary 1 Unit Reduce applicable loan amount limit 85% LTV w/ Min FICO = 700 on Min FICO = 700 (unless HUD
Min FICO = 700 (unless GSE
only / Max LTV = 90% w/ Min FICO to next lower LTV bucket Primary 1 Unit only - Additional deignated market - up to $729,750) -
Confroming Jumbo Max LTV 85%)
= 680 on 2 Unit Primary < $533,850 Restrictions Apply CA Max Loan Amt = $417,000
/ LPMI > $417,000 = Ineligible

Appraisal Requirements Full Interior/Exterior No additional restrictions Full Interior/Exterior Full Interior/Exterior No additional restrictions No additional restrictions

Manufactured Homes Subject to Max LTV / Min FICO Subject to Max LTV / Min FICO Ineligible Max LTV = 90% Ineligible Reduce Program Max 5%

2 Unit Properties Ineligible Max LTV = 90% Max 85% LTV w/ Min FICO = 680 Max LTV = 95% Max LTV = 90% Reduce Program Max 5%

Max LTV = 90% / Min FICO = 680 / Max LTV = 90% - Ineligible in AZ,
Second Homes Ineligible Max LTV = 90% Max LTV = 90% Reduce Program Max 5%
Ineilgible in FL CA, FL, NV

Construction Permanent Ineligible Max 90% LTV Ineligible Max LTV = 95% Ineligible Reduce Program Max 5%

Rate/Term Refinance - Ineligible Lender may provide evidence that

with Debt Consolidation neighborhood is not declining to
Notes and other comments
Recertification of Value ineligible for Max DTI = 45% for Enhanced supersede declining market
use upon appraisal expiration Eligibility guidelines
Information provided in this analysis was derived from various publicly available sources, including industry, rating agency, and lender publications. While Genworth believes it is accurate as of the date of its preparation, you may want to verify its accuracy
independently.

© 2008 Genworth Financial, Inc.

All Rights Reserved. This document may not be reused or redistributed without express permission by Genworth Financial, Inc.