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Loan Protector is a leading supplier of insurance verification and outsourcing solutions.
Custom Insurance Tracking for Residential and Commercial Mortgages, Leases and Consumer Loans.
LAWS REGARDING COLLATERAL PROTECTION INSURANCE
Loan Protector Insurance Services is engaged in the business of making insurance verification and protection of collateral as simple as possible for our lender clients. Our business touches on many aspects of loan servicing, including systems, workflow, customer service and legal issues. Our clients rely on our expertise in monitoring insurance to help them perform their loan servicing duties better.
Most servicing managers agree that it is important, but difficult, to keep up with legal issues in the lender-placed insurance arena. As a provider of tracking servicers and lender-placed insurance we would like to offer some help.
While Loan Protector cannot offer legal advice, we felt it would be useful to our servicing clients to have available a simple compilation of state laws regarding lender-placed insurance. There are of course other sources of legal direction on the subject of lender-placed insurance, including court cases and state insurance department regulations and bulletins that will not be covered in this survey.
This survey cannot be considered a complete and definitive source
of state laws, because new legislation is proposed and passed in the state
jurisdictions on an ongoing basis. Please consult with competent local
counsel.
DISCLAIMER:
Loan Protector's legal database is a compilation of publicly available
information we judge to be of interest to our clinets. Its distribution
is limited to businesses and individuals that are involved in mortgage
servicing. If the information that you provide to us does not reflect
an obvious relationship to the industry, we regret that we will be
unable to provide you with access to our database. |
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