An Insurance Tracking program relieves a financial institution of tracking insurance on residential and commercial loans. The tracking company will not only track the insurance of the loan, but will also force place insurance if the borrowers insurance has lapsed or canceled. The cost to the financial institution is based on the number and type of loans to be tracked.
First Service Corporation has specialized in Mortgage Loan Protection programs for over fifty years. Mortgage Loan Protection programs are invaluable plans that offer borrowers loan protection on what might be the biggest investment of their lifetime. By offering a Mortgage Loan Protection plan, your financial institution is not only securing the loan, but protecting the borrower.
Lender-placed insurance, also known as “force-placed” insurance is a policy placed by a financial institution or mortgage servicer on a home when the homeowners’ own property insurance may have lapsed, canceled or the financial institution deems the homeowners’ insurance insufficient. Our Lender-Placed Program offers competitive rates and first-class customer service.
Save Time & Hassle
Insurance can complicated, but finding the right solution doesn’t have to be. We work hard to find the solutions and programs that fit your needs.
For over 50 years, our industry knowledge staff has provided best-in-class customer service to our financial institution partners and their borrowers.
Integrity & Stability
Since 1964, it has been our goal to develop strong and long-lasting relationships with our partners built on the concept of honesty and trust.
Additional Insurance Programs
Property Valuations are an easy alternative to full appraisals on Residential and Commercial properties. In most cases, a Valuation, whether Residential or Commercial, can be half the cost of a full appraisal. Valuations provide highly detailed reports containing comprehensive market data, and detailed photos that verify the property.
If your borrower’s vehicle is stolen or totaled, GAP Insurance may eliminate the out-of-pocket expense incurred should there be a difference between the actual cash value and loan payoff. GAP Insurance provides the borrower with an incentive if they were to finance a new vehicle loan if there was a claim. This allows your institution to retain your borrower base.
Credit Life and Disability Insurance
Give your borrower peace of mind, and allow them the option to add Life and Disability Insurance to their installment loan. Credit Life and Disability Insurance is a valuable plan that should be readily available to the borrower at time of loan closing. With credit insurance, the borrower knows that in the event of death or disability their family will be protected and their obligations met.
Receiving a quote is quick and easy. Save time and hassle by getting a quote through an online portal, or speak with a representative to find the best insurance policy to meet your needs and budget. Getting a quote can be done from the convenience of your own home, or on the go at any time.