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| Are you holding back from outsourcing your insurance tracking because you haven't found a provider to handle your requirements? |
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| At Loan Protector, we are sensitive to the concerns and needs of Servicers who are considering outsourcing their insurance tracking functions. We have taken the time to understand their frustrations with their current in-house tracking procedures and developed our outsourced insurance tracking system, EasyTrackSM, to address their concerns. EasyTrackSM can substantially increase your level of control over the insurance tracking process. |
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| Are these some of your concerns? |
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| HOW DO I... |
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- Keep insurance documents from stacking up
- Eliminate insurance paper from my operations
- Have real time access to insurance data and documents on-line
- Reduce staffing and expenses related to insurance tracking
- Eliminate turnover of insurance personnel
- Maintain more control over the tracking process
- Allow existing employees to be more productive
- Improve customer service response time
- Eliminate the hassle of paying escrow/impound renewal premiums
- Transfer Risk and Responsibility for uninsured losses
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| Are these some of your requirements? |
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| I NEED TO... |
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- Have an Existing Data Interface with my servicing software
- Track Insurance on both Commercial and Residential Loans
- Track Insurance on Loans with Multi-Collateral
- Track Multiple Insurance Types and Requirements per Loan and Collateral
- Have Secure "Real Time" Internet Access to Loan and Insurance Data
- See Images of Insurance Documents On-Line
- See Images of Borrower Notification Letters On-Line
- Have Online Access to Useful Management Reports
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The Three Basic Components of Loan Protector's Tracking Programs:
- We Collect insurance information and match it against your loan portfolio to update insurance status;
- We Notify your borrowers if they are not in compliance with your insurance requirements;
- We Report to you those borrowers who fail to comply even after proper notification.
One major misconception about outsourcing insurance tracking is that it will ensure that all your borrowers comply with your insurance requirements. No lender can make a borrower purchase insurance or provide evidence of insurance; you can only ask. This is where Lender-Placed Insurance allows the lender to force compliance and protect your portfolio.
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In addition, Loan Protector offers these additional services:
- Lender-Placed Insurance for mortgage or consumer loans. Recommended in conjunction with the notification cycle to improve borrower compliance levels and protect the lender.
- Customer Service Call Center to handle incoming calls related to insurance from borrowers or their insurance agents.
- Escrow Payment of Premiums for mortgage lenders to streamline your escrow functions.
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