Quarter Two Newsletter, 2021
Welcome to our latest newsletter! We hope our quarterly newsletters help to keep you updated on our most recent news and provide you with valuable industry information. Our goal is to provide great content including detailed insight for loan officers, compliance officers, and loan servicing professionals who use our products and systems every day.
Miniter Group’s Q2, 2021 Newsletter contains informative articles on the following features:
- Tax Tracking Lender Services – Info-Pro
- Upcoming Commercial Insurance Tracking Webinar
- COVID-19 & Force-Placed Insurance 2019 – 2020
- Miniter Employee Promotions in 2021
- FEMA Flood Insurance Regulation – Risk Rating 2.0 White Paper
Real Estate Tax Tracking, Info-Pro Lender Services
We track insurance, they track taxes. Together, Miniter Group and Info-Pro Lender Services partner to provide industry-leading solutions that help financial institutions assure their assets while maintaining the Borrower-CentricSM values we practice every day.
Info-Pro is a leading-edge tax tracking provider that guides banks and credit unions through the complicated real estate tax landscape. With over 26,000 tax authorities nationwide, Info-Pro has the tax information and user-friendly platform lenders need to optimize workflows and protect their portfolio.
Have confidence in your real estate tax information with advanced technology that takes the work out of tax monitoring and processing. Info-Pro provides advanced and efficient solutions to tasks like:
- Portfolio verification
- Delinquent tax tracking
- Escrow tax payments
- Flood determinations.
“Being the best requires partnering with the best. That’s why we partnered with an insurance agency that not only upholds our standards for service excellence, but also shares our people-first values. Together, we help banks and credit unions across the country stay compliant with smart, time-saving solutions.”
– Mark Daniels, SVP, Sales and Marketing at Info-Pro
Contact Miniter Group today and we will connect you to the right Info-Pro team member with the best solution for your institution.
Force Placements in 2019 – 2020
This graph was created to analyze the effect of COVID-19 on Force Placements. We mined data from 10 lenders representing 3,700 placements of both Commercial Loans and Residential/Condo Loans. The results were surprising to us.
We had expected to see a significant rise in Q3 2020 after mandated insurance cancellation deferrals had expired. Instead, we see a considerable frequency increase of force placements starting in January 2020 (5X – Commercial; 3X – Residential).
Will this continue into 2021? We will report back later this year.
This year is off to a great start with multiple new role advancements for Miniter Group employees. Six people have been promoted at Miniter Group in both the Lender Services Department and Tracking Operations Department.
We seek to steadily monitor the company’s current growth and future planned expansion by hiring and promoting Top Shelf individuals at Miniter Group.
Featured Promotions of 2021:
- Theresa Moore – Client Services Coordinator promoted to Sr. Client Services Coordinator
- Eric Huelsman – Mail Room Associate promoted to Mail Room Team Lead
- Christina Bonisolli – Insurance Tracking Representative promoted to Tracking Team Lead
- Kait Dorney – Insurance Tracking Representative promoted to Training Coordinator
- Mavelin Alvarado – Insurance Tracking Representative/Team Lead promoted to Quality Assurance Coordinator/Team Lead
- Kat Nevins – Insurance Tracking Representative promoted to Quality Assurance Coordinator
Risk Rating 2.0
Miniter Group recently published a blog on “Risk Rating 2.0.” This white paper takes a deep dive into the redesigning process of the way NFIP policies are rated. It describes how the new rating system, Risk Rating 2.0, will provide more accurate rates for properties’ flood risk.
For example, a property owner in Montana will no longer be paying the same rate as a property owner on Florida’s coast. FEMA has stated the three characteristics that will be utilized to determine the risk rating of each property. Read the white paper today to learn more about these determinants.
Policyholders and agents are encouraged to read into this conversation to prepare them for what to expect when Risk Rating 2.0 is released.
Compliance Risk Manager, Robert Hayden, quotes “Risk Rating 2.0 may be the change that is needed to help make the NFIP sustainable again, or it may prove to be too little too late from FEMA.”
Learn more on Miniter Group’s blog page today.
Thank you for reading our quarterly newsletter! We hope you enjoyed keeping up with our latest industry insight and Miniter insiders.
Miniter Group is a leading provider of collateral risk transfer solutions to the lending industry, providing blanket and lender-placed insurance solutions to over 600 lenders in 41 states. Miniter’s in-house software development team continues to work with lenders to enhance the fast-growing Borrower-CentricSM Insurance Tracking System
Miniter’s solutions include Vendor Single Interest Insurance, Lender Placed Insurance, Collateral Protection Insurance, and Mortgage Impairment Insurance.
We invite you to call us at 1-800-MINITER or visit us on the web at www.miniter.com.
We hope you are enjoying the Miniter Newsletter. This is our second Newsletter, and we are excited to continue to publish these in 2021.
Please use the box below if you would like to add any comments to this Newsletter. Comments and feedback are always appreciated.