Miniter Group’s “Write Your Own” (WYO) 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.
Your loan servicing department will handle inbound mortgagee/lien holder mail. If the borrower’s insurance is non-conforming based on your loan agreements, your agents will contact your borrower, or your borrower’s insurance broker to correct the issue. If your agents are unable to resolve the issue, they will force-place insurance using the Miniter WYO system.
Once the insurance is placed, your loan servicing team will monitor the WYO system as compliant notifications are sent out with perfect timing, in compliance with both RESPA and NFIP regulations. These notifications can be sent either from your location or from Miniter Group’s secure mailroom in Rockland, MA. Insurance premium billing couldn’t be easier with the option for annual or monthly billing. When your borrower has re-established their insurance, the Miniter WYO system will calculate timely premium refunds to ensure that you stay in compliance.
Do you have questions regarding a notification, placement or a billing issue? Real time messaging is available during business hours, linking you directly to Miniter experts who will resolve your questions within minutes.
With Miniter’s WYO solution, you successfully manage the customer relationship, and we will successfully monitor compliance for your lender-placed insurance program with our Borrower-CentricSM insurance tracking system.