Part II in the blog series “Challenging The Force-Placed Insurance Business Model: Early History”. This post will discuss the early history going back to when insurance trackers received overnight packages containing X-checking data files. We discuss the history up to the passage of the Dodd-Frank Act.
This blog post starts Miniter Group’s blog series that will challenge the Force-Placed Insurance business model. The History of Force-Placed Insurance including the fee income era, Dodd-Frank reform, on-going compliance issues, and a new proposed business model will be covered in this series.
Take a deep dive into VSI insurance from the eyes of a 20 year veteran who has underwritten VSI for some of the largest indirect vehicle lenders in the country. Vender Single Interest Insurance history, how it works, proper underwriting and benefits to the lender will be covered in great detail. Are you considering VSI Insurance? If so, this is a must read!
Mortgage Impairment Insurance is a critical component of a lender’s collateral risk transfer strategy. Mortgage Impairment not only covers uninsured physical damage, but it provides errors & omissions coverage for loan servicing that is required by secondary markets. This guide will provide the insight that a lender needs to understand mortgage impairment insurance.
This guide provides the lender with a detailed overview of Force-Placed Insurance. Discussions include features & benefits, history of force-placed insurance, the lender-placed insurance policy, issues with the current force-placed insurance business model and the new Borrower-Centric insurance tracking module along with compliance and vendor management. This is a must-read for any lender using force-placed insurance.