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Violation Tracker Individual Record

Company: Genworth Mortgage Insurance Corp.
Current Parent Company: Genworth Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $90,000
Year: 2015
Date: June 23, 2015
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Genworth Mortgage Insurance Corp. agreed to pay a $90,000 civil penalty in settlement of allegations it engaged in Captive Mortgage Reinsurance Arrangements that did not pass a reasonable risk transfer test and the premium paid for the reinsurance exceeded its value, in violation of federal and state regulations.
Level of Government: state
Action Type: agency action
Agency: Minnesota Department of Commerce
Civil or Criminal Case: civil
Facility State: Minnesota
HQ Country of Current Parent: USA
HQ State of Current Parent: Virginia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.