White Paper: Design a Cost-Effective Lender Hazard Insurance Solution
Properly protecting your residential and commercial real estate portfolios requires excellent planning and execution. This white paper unveils the simple techniques used to design a robust and cost effective program to transfer collateral and operational risks from your loan servicing department.
Mortgage Hazard Insurance
Lender Placed Insurance for your residential mortgage portfolio delivered from Miniter Group is a cost effective, compliant approach to transferring this collateral risk. Miniter's Borrower-Centric Insurance Tracking service works with your borrower's insurance agent before the expiration of the borrower's policy. This provides the service a borrower would expect from their lender.
In the event that the borrower cannot maintain insurance with his current broker and their policy cancels, Miniter's lender placed coverage will be utilized to insure that the borrower and the lender have no lapse in coverage on the collateral.
Miniter bills in arrears for only the time that the borrower is without their own insurance. If the borrower's policy is not compliant with insurance standards defined in the lending agreements, Miniter Group's tracking department will work with the borrower's insurance agent to correct the non-conforming items within the borrower's policy. Borrower-Centric Insurance Tracking eliminates over 95% of the false placements of your borrowers.