Insurance tracking support app
EasyNOR℠ manages Notice of Requirement (NOR) letters for servicers who are not ready to fully outsource their tracking operations, but need assistance automating the borrower notification and lender placed insurance process.
EasyNOR℠ identifies insurance exposures within your residential or commercial mortgage portfolio and notifies your borrowers of deficiencies or exposures compared to established insurance requirements.
EasyNOR℠ streamlines your process. Our analysts:
- Collaborate with your mortgage servicing and IT department to receive an electronic file containing borrower and insurance data from your mortgage servicing system
- Scan the portfolio to identify insurance deficiencies and exposures
- Send a series of notice of requirement letters to borrowers with missing insurance
- Provide automatic coverage for uninsured losses which occur during the borrower notification cycle
- Implement lender place insurance if an exposure still exists at the end of the borrower notification cycle
- Provide an electronic data file of lender placed insurance for upload into our clients’ loan servicing systems
- Issue a premium invoice for coverage actually placed after all notices have been sent
- Reduces operational expenses associated with tracking and borrower mailings
- Utilizes automated billing and data uploads to reduce manual data entry time and expense
- Integrates with EasyTrack℠ and EasyData℠ to provide the added safety of automatic coverage from uninsured losses during the borrower notification cycle