Is the fear of losing your job stopping you from buying a home? You’ve saved and worked hard to buy a home. Now that your dream is within reach, Job Loss Protection may help you protect it.

Hi, Jean Robb here. I've heard it time and time again: home buyers who know this might be the best market of their lives, hesitating to buy because they're concerned there's even a remote chance they'll lose their job. Mortgage rates, hovering at record lows for nearly three weeks and rising rents may soon prompt some buyers to take a second look at buying. As a Realtor I wanted to find a way to protect my buyers and help them take advantage of this once in a lifetime market. After doing some research I've found a great solution.Job Loss Protection Insurance. I have a great mortgage company that I've worked with for many years now. Alex Varela with Prime Lending has helped me find the protection you need to move forward with your home purchase. I don't know why this protection plan is not made more available by lenders and builders but here's all the information you'll need! I would love to help you find a great home. Give me a call!

Alex Varela Varela
Alex Varela Loan Originator
Office 972-250-9603 ~ Fax 866-908-1524

NMLS: 184823
(Registered as Alexander Varela)

Located in the Dallas / Fort Worth area, Alex has been providing excellent mortgage servises to hundres of families over the last 8 years. You need a company that values honesty and integrity throughout the entire organization. You need to find strength, stability and opportunity -- especially now. You need me and PrimeLending!

I would love to be your trusted mortgage advisor. I can help you with the full range of mortgage products including conventional loans, FHA, VA, 203k, investment property financing, and more. Please use the link below to apply on-line or feel free to call me anytime.

Here's how the plan works!

Once the loan has closed and funded they go to and click register now and fill that out to register for the Job Loss Protection. They will need the MI commitment number (given to them by the lender, me) to register. Any borrower is eligible as long as they are a Genworth client. The lender is responsible for picking their mortgage insurance and placing it with Genworth. They will receive an information packet that explains how to file the claim etc…

However, the client needs to file the Job Loss Claim within 60 days of losing their job (involuntary job loss).

They can also register for Home Buyer Privileges which will allow them to get special discounts for services related to home buying such as movers, Lowes, Bed Bath Beyond, Sears, etc….

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Genworth provides a very informative online Homeowner Welcome Center where each borrower can register to learn more about these Genworth features and benefits, plus get contact information when they need it. Job Loss Protection – additional benefit to help borrowers avoid default in the event of involuntary job loss. Homebuyer Privileges® – thousands of dollars of savings from national retailers of goods and services for a new home.
The Foyer – Genworth’s quarterly email newsletter full of valuable information like MI coverage reminders, homeowner tips, and a special co-branding opportunity for lenders to include special messaging of your own.
Genworth mortgage insurance
may help you Make Your Mortgage
Payments if you Lose Your Job

You’ve saved and worked hard to buy a home. Now that your dream is within reach, Job Loss Protection may help you protect it. It’s an additional benefit that may make your mortgage
payment if you become involuntarily unemployed. Genworth Mortgage Insurance purchases
this benefit for you, so it doesn’t cost you a penny. Genworth, our innovative products and services help keep you secure in your home during tough times:

Advantages of Job Loss Protection:
• Helps protect credit by keeping up with your mortgage payments.

• Safeguards the investment made in your home.
• Makes emergency savings go further.
• Provides some peace of mind during the stress of unemployment.
Job Loss Protection is provided by a third party and backed by an A.M. Best “A” (excellent) rated insurer. Please note that the Job Loss Protection program described herein is subject to conditions, exclusions and restrictions not necessarily included in this Summary. The program is subject to availability at the time of loan closing and may be modified or withdrawn without notice.
Benefit Amount
• Up to $2000 (including principal, interest, taxes, insurance)
Number of Benefit Payments
• Up to 6 monthly payments
Benefit Period
• Up to 3 years after loan closes, as long as the mortgage insurance remains in place Servicing • Benefit payments are administered by Genworth’s Job Loss Protection provider and are paid to the loan servicer.
• Benefit payment is provided during the Job Loss Protection benefit period as long as the Genworth mortgage insurance on the loan remains in force.
Cost • The cost of Job Loss Protection is paid by Genworth Mortgage Insurance.
• The mortgage insurance premium rates are unaffected by the decision to purchase this benefit.
Beneficiary of the Assigned Benefits
• Genworth has the right to assign approved payment benefits to the servicer of the loan for application to the monthly mortgage payment (PITI). Borrowers will still be required to pay all amounts due under the mortgage loan.
Types of Unemployment Events that are Eligible
• Most, but not all, unemployment events covered by state unemployment benefits are eligible.
Types of Unemployment Events that are NOT Eligible
• Seasonal employment
• Temporary employment
• Voluntary unemployment
• Self employment
Additional Provisions
• Loans with Job Loss Protection are ineligible for Captive reinsurance and other risk sharing agreements.
• Borrower vesting period is 60 days after loan closing.
• Borrower waiting period is 30 days from the date of involuntary unemployment.
• On joint borrower loans, the principal, interest, taxes and insurance (PITI) benefit payment is prorated based on the combined incomes.
• Borrower must notify Job Loss Protection Administrator of involuntary unemployment no later than 60 days from their last date of employment.

As an added bonus,
when you register you also gain access to

Homebuyer Privileges® – a site where you can save thousands
with our well known retail partners on items for your home.

Congratulations again and welcome to Genworth where homeownership
is Sooner , Safer and Smarter

Job Loss Protection Program

Benefit includes principal, interest, taxes, and insurance (PITI) up to the $2000 monthly limit. You will still be required to pay all other
amounts due under the agreement of your loan. It covers up to 6
monthly payments during the benefit period.

Checks are sent directly to the servicer of your loan.

After an initial 60-day vesting period from your loan close date, the
benefit is paid if the qualified borrower or co-borrower becomes
involuntarily unemployed for at least 30 days as a result of an
eligible unemployment event.

Up to 3 years after the loan closes, while the mortgage insurance
remains in place.

Certain restrictions apply for eligibility and benefit payments.
You are not eligible to receive benefits if, at time of claim, you:
• Were not at least 18 years old
• Were self-employed or an independent contractor
• Were voluntarily unemployed due to quitting or resigning
from employment
• Retired as a result of an employer policy, involuntary
retirement or other reason
• Were out of work due to being terminated from seasonal or
temporary work
• Were laid off as a result of normal and routine shut down, as
determined by your place of employment
• Were employed by relatives
• Were employed part-time or did not work at least 30 hours
a week for 12 consecutive weeks
• Were out of work for any medical reason, workers
compensation or work-related injury, family leave, maternity
or paternity leave
• Were ineligible for resident state or local government
unemployment benefits
• Did not satisfy the required vesting and waiting periods
• Had prior knowledge of any pending involuntary
unemployment prior to the effective date of the benefit
• Were terminated from employment as a result of willful or
criminal misconduct, a willful, improper or wrongful
transgression of some established and definite rule, a
forbidden act, or dereliction of duty
• Had more than a 10% interest or ownership in the company
you worked for.


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