Has the vendor considered all possible risk scenarios associated with each portfolio?
Have they customized the policies to provide low- or no-cost risk transfer?
What are the expenses associated with the delivery technology?
What are my annual Vendor Management expenses?
Miniter helps our lenders maximize ROI by understanding the inherent risks embedded in each type of loan portfolio and then applying a proven, low-cost, compliant solution. A typical example is a HELOC portfolio:
Many lenders choose to transfer HELOC risk by tracking the borrower insurance on these portfolios. Tracking will cost the lender anywhere from $3 to $6 annually per loan. We disagree with this methodology and advocate using a blanket insurance policy on non-SFHA HELOC loans. This is because the frequency of loss is so low on a HELOC/2nd portfolio that blanket insurance is cost-effective. This will eliminate any forced placements and will reduce the annual cost to roughly $2.25 per loan — a better solution for both the borrower and the lender!
Vendor Management Compliance
Miniter Group’s entire engagement with our lenders is centered on compliance with your Vendor Management procedures. Our processes focus on facilitating your regulatory oversight. These processes include contract structuring, data security (we are proud to possess the best data security protocol in the industry), internal controls, and ongoing compliance audits. Miniter Group will automatically document and deliver all regulatory documentation prior to your annual audit. We are positioned to be a compliant partner that minimizes Vendor Management expense.
Reputation for Excellence
At Miniter Group, we pride ourselves in the fact that we are independently owned and debt-free. This has allowed us to grow our practice deliberately and at our own pace. While our growth has accelerated, our reputation has always been flawless, thanks to our highly experienced leadership and close relationship with all our lender clients. We listen, we learn, we implement, and we always guarantee our clients’ regulatory compliance.