Lender Placed Hazard – Single and duel interest Forced Placed Hazard coverage designed to protect the lenders interest from loss on real estates loans both commercial and residential loans.
Lender Placed Flood – Single and duel interest Forced Place Flood coverage designed to protect the lenders interest from loss and regulatory requirements on both commercial and residential loans.
Lender Placed Excess Flood – Forced place coverage over the NFIP limits.
Lender Placed Wind – Primarily used in coastal states where there is a high hurricane risk– Forced Place Wind only coverage designed to protect the lender when the borrower’s insurance is issued with out wind coverage.
Outsourced Insurance Tracking – Tracking of hazard, flood, builder’s risk and wind insurance policies on residential, commercial and consumer loans. Including the letter notices and Errors & Omissions coverage.
Blanket Mortgage Hazard – Blanket Hazard policy used to cover loan portfolios eliminating the need for insurance tracking on both first and second mortgages – Flood is not included, Lenders are required to track flood.
Tax Tracking Services – Automated tracking of delinquent taxes on all real estate loans, fee for service is charged at loan closing.
Venders Single Interest (VSI) – Blanket hazard coverage for auto, trucks and watercraft portfolios eliminating the need to track borrower’s insurance. – Unlike lender placed policies this only protects the lender and requires vehicle to be repossessed before a claim can be filed.
Lender Placed Hazard – Duel interest Forced Place insurance designed to protect the lender from loss on vehicle loans.
Outsourced Insurance Tracking – Tracking of Hazard insurance policies on all vehicle loans including the letter notices and Errors & Omissions coverage.
Ancillary Income and Customer Retention
Credit Life – Life and Disability coverage sold by the lender at the time loan closing on vehicle, commercial and equity loans.
Guaranty Auto Protection (GAP) – Insurance coverage to protect the borrower from loss due to a GAP between the loan balance and insurance proceeds after an accident where the vehicle is a total loss.
Auto Warranty – Insurance that protects borrower from unexpected maintenance cost to their vehicle.
Mortgage Life – Life, Disability and Accidental Death insurance coverage sold anytime during the life of the borrower’s mortgage loan. – Unlike credit life and disability where the premium is paid upfront, the borrower pays the premium monthly by credit card or automatic check withdraw. This provides portability; the lender continues to receive their fee as long as the borrower pays the premium.
Home Warranty coverage – Offered to savings and checking customers as a benefit from the financial institution with an “opt out”.
Relocal Move (RM) – RM provides bank and credit union barrowers a very lucrative real estate rebate any time they buy or sell any real estate through Relocal Move’s nationwide network of brokers. (At no cost to the lender!)
Flood Determinations – Lowest prices on life of the loan and basic determinations through nationally excepted companies.
Residential Property Evaluations – This service is available as a simple exterior account, an exterior with rear-view (walk around) and an Interior-exterior inspection, which include a current eyewitness account of the subject property. These services have been extremely beneficial to assist lenders in complying with the Interagency Guidelines and allow them to avoid costly appraisals for residential loans below $250,000. Other information included in the report are: pricing environment including consumer desired price point (CDPP), replacement cost i.e. structure + land value, assessed tax value, zip code data (average home value, income, households per zip), neighborhood conformity, current listings and rental analysis (ie. net income potential).
Bundled Loan Closing Services – One website location for all the services needed to close real estate loans
Guaranteed Lien Protection – For less than you pay for a pencil search you can get a guaranty that at the time of closing you will be protected against unknown liens.