Miniter Group | Insurance Tracking for Commercial Loan Portfolios
Miniter Group’s Borrower-CentricSM insurance tracking system was developed to handle the complex insurance tracking of commercial portfolios.  Our system is designed using a 3 tier relational database with each tier independently relating to each other as required.
force placed insurance, lender placed insurance, insurance tracking, insurance for commercial loan portfolios, commercial loan portfolio insurance tracking, commercial mortgage hazard insurance, commercial portfolio flood insurance, NFIP commercial flood insurance tracking,
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Commercial Insurance Tracking

Transferring risk in a lender’s commercial portfolio is more complex than tracking Residential 1-4 because of the complexity of business insurance policies as well as the “abundance-of-caution” underwriting that will bring equity from multiple business assets to secure the loan.

 

Miniter Group’s Borrower-CentricSM insurance tracking system was developed to handle the complex insurance tracking of commercial portfolios.  Our system is designed using a 3-tier relational database with each tier independently relating to each other as required.

 

Loan Tier – Loan data is imported weekly from the lenders core systems which typically include loan balances, loan type and collateral addresses.

Collateral Tier – Addresses from both the loan file and the insurance policies are mapped together to provide a bridge from the loan tier to the policy tier.

Policy Tier – We maintain all insurance related information regarding policy limits, collateral information and locations for real property, equipment & contents.

 

The three tiers of the commercial tracking database enables tracking of complex relationship when there is multiple collateral to secure a loan, when one collateral supports multiple loans or when one policy supports multiple collaterals.  This type of flexibility in our database structure allows Miniter’s Borrower-Centric insurance tracking to accurately monitor your commercial portfolio.

Outsourcing Your Tracking to Miniter (OST)

When you choose Miniter as your lender-placed insurance tracking partner, we ensure compliance by following carefully designed and vetted processes, and employ a Borrower-CentricSM approach.  This means we treat your borrowers (or, your members, in the case of credit unions) like you treat them.

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Write Your Own (WYO)

Our WYO solution is a web-based insurance placement system that is designed to integrate into a lender’s existing insurance tracking system workflow. WYO is an easy-to-use system that automates the placement, cancellation, billing, and compliance notifications associated with force-placing insurance.

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Track Your Own (TYO)

If you prefer to track insurance in-house, but your information systems are not optimized for it, Miniter’s Track Your Own force-placed insurance tracking solution may be the right fit. This system provides the full functionality of our outsource insurance tracking technology in your loan servicing department.

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Claims & Lien Holder Services

Claims service is critical to the operational efficiency of transferring collateral risk. Miniter Group has invested in state-of-the-art claims processing for force-placed hazard and flood insurance, as well as blanket VSI. In addition, we offer debt cancellation claims processing services to increase your per-claim recovery and reduce your net charge-offs.

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