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Collateral Insurance - Tracking
This product may also be referred as "Lender Placed Insurance", "Force Placed Auto Insurance" and "Collateral Protection Insurance"
Our program was designed to protect both the lending institution and the borrower against financial loss resulting from damage or destruction of uninsured real property. With the use of our comprehensive state-of-the–art tracking system and a weekly file exchange from the lender,
Our program monitors:
- Status of borrowers individual hazard insurance policies
- Minimum coverage requirements
- Loss Payee clause
Our program produces:
- Warning letters to borrowers
- Insurance documents for collateral
- Management reports both weekly and monthly
- Specialty reports on demand
Our program offers:
- Reduced administrative costs
Lender control and flexibility
- Automatic Coverage to protect all loans
- Compliance peace of mind
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