Loan Servicing is at the heart of any lender’s collateral risk management program. As a successful loan servicer, you must provide the best possible customer experience while balancing efficient staffing, affordable technology and compliant workflows. Your loan-servicing partners must deliver solutions that will enhance the customer experience you are providing. Whether your group processes skip claims for the vehicle portfolio, or you are processing an escrow payment for your residential 1-4 portfolio, your department needs technology that will enable you to efficiently perform insurance-related tasks.
Miniter Group’s Borrower-CentricSM solutions monitor all insurance protecting your borrower’s collateral, but with a focus on protecting your hard-earned relationship with your borrowers. Introduced in 2007, our Borrower-Centric workflows have gained wide acceptance from small to medium lenders as we moved the focus of insurance tracking from the lender to your borrower. We are Borrower-Centric because we firmly believe lender-placed insurance should be the absolute last resource. Even after force-placing insurance, we treat borrowers the same way you do and help them solve their problem as fast and painlessly as possible. Every day we strive to improve your borrower’s experience while providing a cost-effective and compliant solution for your loan-servicing department.
You can learn more about our technology below. You may also wish to download a white paper that will introduce you to our Borrower-Centric methodology, or one detailing information on flood tracking, compliance, or vendor management. While you’re here, click around our website and get to know us. With the exception of a handful of pictures of residential homes, all of the pictures on our website are from our headquarters in Rockland, MA.
Our Insurance Tracking Technology
Miniter Group has worked with hundreds of loan servicing departments to develop state-of-the-art, web-based tools that get the job done, from tracking insurance to force-placing insurance. We also offer claims and vehicle skip tracing functions.
These are the three methods we use to help you achieve your loan-servicing goals:
Outsourcing Your Insurance Tracking to Miniter
The decision to outsource your lender-placed insurance tracking involves analysis that must show considerable value relative to tracking in-house. For starters, your borrowers’ experience with your outsourced tracking partner must be as good as their experience with your internal loan servicing, or you risk losing that borrower relationship. Furthermore, expenses associated with Vendor Management are now significant for lenders, and this expense must be taken into account along with the benefits of outsourcing.
We currently provide insurance tracking services to over 80 lenders. As a result, each of these lenders has reduced operational expense.
Not ready to outsource your insurance tracking, but worried about sending RESPA and NFIP notifications on a timely basis? Feeling up against the clock sometimes when it comes to cancellation-and-refund premiums? If internal force-placed insurance compliance is a concern, Miniter’s Write Your Own insurance tracking may be the solution.
700 plus lenders use our WYO insurance tracking solution to augment their internal insurance tracking.
You wish to track insurance in house, but your information systems are not up to the task? The Miniter Track-Your-Own (TYO) insurance tracking solution may be the right fit. This system provides the full functionality of Miniter’s insurance tracking technology in your loan servicing department.
Unable to resolve the non-conforming insurance issue with your borrower? This is where the Miniter TYO system takes over to meet RESPA and NFIP requirements