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The EasyDataSM System eliminates paper documents, saves
lenders time and resources, while improving data quality and increasing accuracy
What is Loan Protector's EasyDataSM system?
Formerly known as EII and EasyLink, this service will involve electronically sharing
homeowner’s insurance information – compiled by more than
100 insurance carriers – with lenders. EasyDataSM is designed to act as
an insurance information clearinghouse, gathering homeowners’ insurance
from all major insurance carriers and enabling lenders to access this
information electronically. With this service, lenders remain in control
of their insurance function, while saving time and resources.
Is this service new?
Large servicers have been using this type of data
interchange for years, but through advanced technology, Loan Protector
can now offer this type of service to any size portfolio.
How do I benefit?
EasyDataSM is the best alternative for lenders who prefer
not to outsource their insurance tracking process but still want the benefits
of saving invaluable time by reducing expenses and the amount of paper
documents.
EasyDataSM includes our EasyNORSM System
Using the EasyNORSM System, Loan Protector processes a master file or extract of the lender’s portfolio and tracks all
borrowers without current insurance. The software generates a series of
custom warning letters to the borrower. During the cycle of letters, Loan
Protector offers automatic coverage that protects lenders from any hazard
insurance losses. If a borrower does not respond to the series of letters,
the system automatically orders lender placed coverage on the collateral
property.
Through
the EasyDataSM system, insurance records are saved instantly in the lender’s
servicing system, allowing real time access to the data and eliminating
paper documents.
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