Genworth Saves $2.3bn of Mortgages from Foreclosure

Genworth Financial (GNW: 8.68 +1.40%) kept 16,952 mortgages out of foreclosure in the past 12 months, according to its quarterly Foreclosure Prevention Scorecard.

The scorecard, which covers the 12-months from July 1, 2008 to June 30, 2009 showed that Genworth saved $2.3bn in mortgages. It also shows a 51% surge over the same period last year as a result of an increase of loan modifications, which accounted for 41% of the workouts.