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Genworth Mortgage Insurance Chief Appraiser One of First 30 in Nation to Earn Appraisal Institute's New "Residential Review Specialist" Designation

06/24/14

AI-RRS Designation Recognizes Appraiser's Role in Risk Management, Mitigation

RICHMOND, Va., June 24, 2014 /PRNewswire/ -- Adam Johnston, Chief Appraiser for Genworth Mortgage Insurance (MI), a unit of Genworth Financial, Inc. (NYSE: GNW), recently was among the first 30 practitioners in the United States to earn the AI-RRS (Residential Review Specialist) designation from the Appraisal Institute (AI), signifying demonstrated expertise in the specialty of residential appraisal review.

AI-RRS is the Appraisal Institute's first new appraisal designation in more than 20 years. The new review designation program took effect Jan. 1, 2014. It was developed in response to the growing and critically important role that appraisal review plays in due diligence, risk management and mitigation for many users of appraisal services. "Appraisal review involves the process of examining an appraisal in areas such as completeness, accuracy, adequacy, relevance, and reasonableness," said Johnston. "As the AI-RRS course materials are introduced nationwide, more appraisers are likely to pursue this additional designation."

To attain the residential review specialist designation, appraisers must have extensive residential review experience, successfully complete additional academic coursework in this specialty, pass an examination and demonstrate peer-reviewed proficiency in completing such reviews.

Johnston, who also is Director of Investigations for Genworth MI, already holds the Appraisal Institute's SRA designation, signifying his expertise in the analysis and valuation of residential real property. Attaining these designations demonstrates an appraiser's knowledge, experience and commitment to the profession. Johnston has been quoted in news articles and has been well-received as a speaker at mortgage and housing industry conferences.

The Appraisal Institute is a global professional association of real estate appraisers, with nearly 22,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. All Appraisal Institute professionals adhere to a strictly enforced Code of Professional Ethics and Standards of Professional Appraisal Practice. Appraisal Institute Designated members have met rigorous requirements relating to education, testing, experience and demonstration of knowledge, understanding and ability.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, and financial protection coverages -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.

Genworth operates through three divisions: U.S. Life Insurance, which includes life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com. From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com

SOURCE Genworth Financial, Inc.

Media - Alfred King (Genworth U.S. Mortgage Insurance), 1.919.846.3018, Alfred.king@genworth.com

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