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.