Coverage Options
Non-Real Estate Collateral
Overview
Verify insurance at loan closing, and no further tracking or force placement is required on most loan portfolio segments. May offer other coverage’s besides physical damage
Benefits
Eliminates all time spent tracking and force placing; coverage is always in place; don’t have to send any letters or charge borrowers expensive insurance policy
Ideal User
Servicers with a low percentage of borrowers who use LPI and want to reduce expenses; eliminate the hassles of lender placement and maintain a positive community reputation