NORWELL, MA – Miniter Group today announces that 18 new bank and credit union clients have converted to the Miniter Borrower-Centric Insurance Tracking Solution. Since the introduction of their Borrower-Centric approach in 2006, Miniter Group has grown 43% year over year for the last 10 years.
The Changing World of Loan Servicing
According to James Gilpin, EVP of Business Development at Miniter Group:
“Loan servicing is changing as small to mid-size lenders continue to search for ways to enhance the bottom line. Many lenders are focusing on improving the borrower’s experience with a direct result to the bottom line. Many times, this focus leads to improvements regarding insurance tracking and force-placed insurance..”
What Does this Mean?
“As banks look to enhance the borrower’s experience, many are discovering that Miniter’s Borrower-Centric approach provides the most flexible and compliant insurance tracking solution. Our methodology puts the borrower’s needs first.
Our job is to help the borrower maintain their own insurance so the force-placement is not required. The lender also benefits as our Borrower-Centric methodology transfers all collateral risk and reduces non-interest expense in loan servicing.”
Leading the Lending Industry
Miniter Group is a leading provider of collateral risk transfer solutions to the lending industry. Miniter Group provides blanket and lender placed insurance solutions to over 600 lenders in 45 states.
Their in-house software development created their Borrower-Centric Insurance Tracking System in 2006.
Miniter’s solutions include Vendor Single Interest Insurance, Commercial Portfolio Insurance Tracking, Lender Placed Insurance, Collateral Protection Insurance and Mortgage Impairment Insurance.