Miniter Mortgage Protection Insurance (Miniter-MPI) is our second generation
web-based system that is designed for lending institutions that are looking
for a simple to use collateral risk transfer solution that automates the
insurance tracking process while at the same time protecting their customer
relationships. There are Three options of the system.
Miniter-MPI “Write Your Own”
is designed for lenders who currently use an internal system for tracking borrower insurance.
This system allows users a quick and easy method for placing insurance when their internal system
is calling for placement of insurance.
Miniter-MPI “Track Your Own” is designed for lenders who
wish to receive inbound insurance notifications while utilizing a web based fully integrated
tracking and placement system.
Miniter-MPI “Outsource Tracking” provides full outsourcing of your
entire tracking and placement operation.
Miniter-MPI is simple to set up and many borrowers are fully utilizing the
system in days rather than months that are usually required with traditional
insurance tracking systems. Miniter-MPI is designed so that the lending
institution’s loan servicing department maintains full control over customer
service, insurance tracking and insurance placement. The Miniter-MPI policy
provides broad based coverage to transfer collateral risk from the portfolio.
Miniter-MPI Program Benefits:
- Pushes the procrastinating borrower to obtain their own coverage as required by your promissory note.
- Eliminates foreclosures due to un-insured borrowers"walking away" from damaged collateral.
- Protects your collateral interest by force placing insurance on the borrowers who are "unable" or"unwilling" to obtain their own insurance.
- Protects your collateral interest against physical damage that occurred prior to and after foreclosure.
