Quarter One Newsletter, 2021
Welcome to our latest newsletter! We hope our quarterly newsletters help to keep you updated on our most recent news and provide you with valuable industry information. Our goal is to provide great content including detailed insight for loan officers, compliance officers, and loan servicing professionals who use our products and systems every day.
Miniter Group’s Q1, 2021 Newsletter contains informative articles on the following features:
- Webinar “RESPA Compliance Insurance Tracking Since Dodd-Frank”
- Why Lenders Should Outsource Mortgage Insurance Tracking
- Tracking Tech Corner
- Miniter Employee Spotlights
- Michelle Austin Highlight – 25 Years at Miniter
Upcoming Webinar: RESPA Compliance Insurance Tracking Since Dodd-Frank
Miniter Group is scheduled for an informative compliance webinar in February. The upcoming webinar will examine the significant compliance issues since the CFPB began updating RESPA and provide perspective on these examination findings from both compliance and operational standpoints. The panel will discuss these issues in detail and explain how Miniter Group’s Borrower-CentricSM insurance tracking system monitors these changes.
Robert Hayden, Compliant Risk Manager, and Donald Marthey, Vice President of Business Strategy and Tracking Operations, will be hosting the webinar on February 24th at 2:00 PM. There will be a significant Q&A portion of time during the live stream for attendees to ask questions regarding the discussed topics.
Bankers and lenders are encouraged to join this webinar to tap into Miniter Group’s compliance expertise and implement this expertise in an insurance tracking system. It will also provide a refresher for loan servicers and compliance professionals on the implementations of RESPA.
Why Lenders Should Outsource Mortgage Insurance Tracking
Due to the pandemic’s effects, many homeowners and commercial mortgage customers are under more financial strain than ever before. Consequently, people are increasingly letting insurance policies lapse. Without proper insurance tracking, lenders can find it challenging to know when a borrower’s policy has lapsed.
Because of this increase in insurance lapse frequency, lenders need to be increasingly diligent regarding collateral insurance status to minimize the risk of any loss that incurs during this time. Mortgage lending servicers can easily monitor insurance coverage and reduce the risk of an uninsured loss when outsourcing their insurance tracking.
In our current economic climate, mortgage lenders see an increase in mortgage hazard insurance or commercial hazard insurance placements, both of which can provide coverage to benefit both borrowers and lenders as soon as a property goes uninsured.
Read Miniter Group’s “Complete Guide To Mortgage Impairment Insurance” to learn more.
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.
Tracking Tech Corner
Every day Miniter’s IT & Development staff meets the most extreme challenges with confidence and problem-solving skills. Using virtual desktops allows us to discard a damaged virtual PC machine and provision a new one, taking just a few minutes to troubleshoot a user’s difficulty. They are usually back to work in less than 10 to 15 minutes.
This means less time is spent on HelpDesk cases, allowing us to be proactive and thorough in enhancing functionality, increasing reliability, and expanding our systems’ availability. In recent months, we deployed equipment to new employees across the country. We built functionality for our lender customers to manage their own employee’s permissions inside the Miniter System. Our Development coders have transitioned from our digital call center phone system’s framework design to building and testing its core functions. Like most organizations today, this has all been done with staff working remotely.
An essential on-going endeavor at Miniter is improving the on-line work experience for our staff. When working remotely, there is a critical dependence on cloud-based services. Making things like self-service password resets, single sign-on, and accounts management more comfortable to handle is a boost to productivity. In all things we do at Miniter regarding technology, we strive to reduce the need for break-fix assistance to focus on securing, improving, and expanding resources.
Miniter Employee Spotlights
Miniter Group acquired 60 new Financial Institutions in 2020, and we would like to thank our new customers for entrusting us with your insurance business. This record growth shows that the banking marketplace is beginning to embrace our Borrower-CentricSM insurance tracking strategy’s success.
To accommodate this growth, Miniter Group expanded its tracking staff by 30% in 2020. We controlled our growth with careful implementation planning that included pro-active hiring and training our new employees.
For the last five years, Miniter Group has nominated their Annual Awards for outstanding achievement. In 2020 we added the COVID Award to expand to four awards in 2020. Below are the winners of the 2020 Annual Awards:
2020 Annual Awards:
- The Top Shelf Award – Presented to an individual who pursues excellence in everything they do.
- Awarded to Kim McNally, Senior Client Relationship Manager
- “Kim always offered help to anyone at Miniter who needed it, and still found time to participate in meetings to discuss how to better our current workflows.” – Michelle Austin, Senior VP of Lender Services
- The Vigor Award – Presented to an individual who exhibits enthusiasm and energy in their approach to work. It is a pleasure to work with this individual. The vitality that they bring to work is contagious.
- Awarded to Liz Lewis, Inbound Processing Specialist
- “Her speed and accuracy while processing sets a wonderful example for both new and current employees.”
- The Rising Star Award – Presented to an individual who has gone above and beyond what is expected of them in their job performance.
- Awarded to Christina Bonisollo, Insurance Tracking Representative
- “She is constantly asking where she can be the most helpful. When she clears out the queue she was assigned for the day, she immediately asks her Manager – ‘Where do you want me next?’” – Don Marthey, VP of Business Strategy and Tracking Operations
- COVID Award – Presented to an individual who has gone the extra mile to keep our folks safe.
- Awarded to Lisa Burrows, VP of Executive Services
- Lisa picked up all the pieces, from hand mixing sanitizer to organizing deliveries, to being the go-to person for all questions office related.” – Gary Mahoney, Chief Financial Officer
Michelle Austin Highlight – 25 Years
Ending 2020, Miniter Group congratulated Senior Vice President of Lender Services, Michelle Austin, for her 25th anniversary at the company. Michelle was instrumental in creating and developing the Lender Services Division and is an invaluable member of the company as a leader, mentor, and Manager.
Julianne Donley, President and CEO of Miniter Group, comments today,
“When Michelle joined us, less than ten employees were selling just VSI and mortgage write your own in NE alone. Now, we are almost 130 strong in all states with a full menu of products, our own tracking system, and, thanks to Michelle’s constant care and attention, a nationwide reputation for the best customer service in the industry.”
Miniter Group is grateful for Michelle’s resilient commitment to her customers, team, and the company. We look forward to many more years with Michelle at Miniter!
We hope you are enjoying the Miniter Newsletter. This is our second Newsletter, and we are excited to continue to publish these in 2021.
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