Lender-Placed Insurance and Compliance

Lender-placed Insurance (LPI)

While our processes thoroughly validate if required property insurance exists on a loan, sometimes the homeowner doesn’t obtain the necessary insurance to protect their dwelling. In those cases, LPI comes into play – first through notifications to the homeowner and then through placement of a policy if evidence of traditional insurance cannot be verified. LPI helps protect the value of a servicer’s assets and meets investor and/or federal regulatory requirements related to continuous insurance. LPI also helps protect customers’ homes and provides peace of mind should the unfortunate occur.

We offer a wide range of insurance solutions to meet your portfolio needs and reduce risk to the assets servicers oversee:

  • LPI fire, flood, flood gap and wind insurance
    • 50-state admitted hazard insurance product using National General carriers for maximum compliance
  • REO hazard, liability and flood insurance to protect servicers’ real-estate owned properties
  • Automatic coverage
  • Continuous coverage
  • Flexible deductible options and coverage amounts where permitted
  • Blanket insurance policies to protect you with hazard coverage on condominiums, junior mortgages/HELOCs and others
  • Catastrophe management tools
  • Insurance coverage for servicers who track mortgage loans in-house

Compliance

We protect your brand, customers and investors as if they were our own with an unwavering focus on compliance. National General’s team of legal and compliance experts uses a disciplined methodology to assist you in maintaining compliant insurance programs in accordance with federal and state regulations, as well as investor requirements. Features include:

  • ComplianceTrack™ – A proprietary database of laws, regulations and investor guidelines used to anticipate and avoid compliance issues or inconsistencies
  • Established Relationships – Includes the GSEs, CFPB, industry trade groups and state insurance departments
  • Rigorous Project Structure – Effectively recognizes and implements regulatory change
  • Complaint Management Oversight – Includes root cause analysis and trend identification for process improvement and reporting to improve the customer experience
  • Consultative Partner – We issue proactive compliance communications via bulletins and webcasts

We serve as a resource for our clients’ compliance teams to help mitigate risk and maximize the customer experience.

Contact Us

To learn more about how National General Lender Services can protect your portfolio, contact us at 1-800-225-8178.


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