LvPlace


LvPlace

Coverage Options
Real Estate (Hazard and Flood) and/or Non-Real Estate Collateral

Overview
Servicer tracks insurance, then our professional insurance tracking system handles all private labelled notifications when there is exposure; notifications sent to bank or direct to borrower

Benefits
Complete compliance safety-net; allows servicer complete control over the process; removes letter tracking duties; prompts borrowers to maintain insurance

Ideal User
Servicers who want to maintain control of their LPI program; compliance oriented with focus on a fail-safe system for required letter language, letter preparation and letter timing compliance

Additional Features
I-haveinsurance.comProprietary Lawrence Victoria website where borrowers can submit their insurance information or upload their policy 24/7/365 per the instructions they receive in the first warning notice letter

Custom FAQ Language
An optional additional insert we include answers your borrowers’ questions regarding the insurance requirement in their loan agreement, as well as other commonly asked questions pertaining to their individual circumstances. This provides the following advantages over other programs:
  • Exceeds regulatory compliance requirements
  • Helps soften the insurance requirement message
  • Increases the number of borrowers who comply with your insurance requirement
  • Reduce the number of borrowers who call bank staff with questions or complaints 
Share by: