RESIDENTIAL & COMMERCIAL  |  LOAN SERVICING SOLUTIONS

 
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Lender-Placed Insurance

This coverage allows the Lender to place coverage on loans when the borrower’s coverage has either been cancelled, lapsed or non-renewed. Insures any property at any location. No need for insurance company approval or a physical inspection of the property. REO properties can also be insured for fire and liability. Coverage can be placed online or faxed on a form we provide. Residential properties are insured for “All Risk”. Commercial properties can be insured for “All Risk” instead of “Name Peril”.

 
 
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Insurance Tracking

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.

 
 
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Blanket Hazard Insurance

All mortgaged properties are automatically covered during policy term. Policy is issued for an annual term. Eliminates tracking and force placing when a mortgaged property other than an REO property becomes uninsured. No follow up or force placing required. REO properties would require force placing for Fire and Liability through our Force Placed program.

 
 
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Home Equity & 2nd Mortgage Blanket Coverage

Eliminates tracking fire insurance coverage on Home Equity loans and 2nd mortgages. Does not cover REO properties. Loan can be closed without evidence of lender’s interest to be noted on the borrower’s Homeowners policy covering the first mortgage.

 
 
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Flood Zone Determinations

Utilize the easy and efficient online ordering system to determine if the borrowers property is in a flood zone.  Our Flood Zone Determination program includes Life of Loan Flood Determination pricing, HMDA and no charge for Re-Certs.

 
 
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Tax Tracking Services

Eliminate tedious follow-up and administration work to track and follow up on the property taxes of your loan portfolio. Our Tax Tracking program oversees the property tax information and payment history, decreasing the possibility of tax losses and ensuring that the taxes are paid on time.

 
 
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Mortgage Lending Activities Policy | Errors & Omissions

This is an Errors and Omissions policy that eliminates the need for a title search on Home Equity loans & 2nd Mortgages. The coverage provided is for Errors or Omissions in determining status of property ownership by lender. The cost is much lower than a title search and provides coverage that a title search would not typically provide for your financial institution. 

 
 
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Mortgage Impairment Protection Policy

Eliminates monthly tracking and follow up for fire insurance on mortgages. There a several optional riders the lender can choose to insure risks such as; Title E &O, failure to Process Mortgage Life Insurance applications, Government Confiscation, Property Held in Trust, Custodial E & O, Extended Covered Property, Recordation E & O, Direct Physical Damage from Balance of Perils.

 
 

CONSUMER LOANS  |  LOAN SERVICING SOLUTIONS

 
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Auto Insurance Tracking

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.

 
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Collateral Protection Insurance

This program allows the lender to immediately insure any uninsured vehicle as needed. A monthly or annual premium is advanced and if the borrower later provides evidence of insurance, it can be cancelled, and a pro-rata refund will be made. Coverage is placed through an easy to use online system, or can be faxed. 

 
 
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VSI | Vendors Single Interest

VSI or Lenders Single Interest is a blanket policy that covers the entire vehicle and/or consumer loan portfolio, including various equipment. If damage occurs to a uninsured financed vehicle, repossession of the vehicle would trigger coverage. The premium can be based on a “per new loan” basis or the “outstanding balance” of total vehicle loan portfolio.