Lender-placed insurance is a safety net for lenders, servicers, mortgage investors and borrowers alike. Lender-placed insurance protects your collateral from events such as fire, severe weather, flooding and accidents if borrowers, for whatever reason, fail to carry insurance or let their policies lapse.
These insurance programs are often confusing to consumers, and can damage customer relationships if not properly managed. As a result of this confusion, your organization faces increasing scrutiny from regulatory agencies and the risks associated with not complying with changing rules.
Due to the many coverage options your organization has for protecting your loan portfolio, combined with the ways these programs are implemented and monitored by regulatory agencies, more and more lenders and servicers choose to use a lender-placed insurance expert to assist them in selecting and implementing their lender-placed insurance programs.
For more than 20 years, IL Group has delivered innovative lender insurance solutions to organizations nationwide. IL Group’s relationship with multiple carriers and our knowledge of the insurance market enables us to provide customized lender-placed and forced-placed insurance products and services.
Our clients receive coverage that consists of the right terms and conditions to protect and meet the needs of their portfolios. In addition, our clients receive superior service from our experienced team of Certified Mortgage Bankers, Certified Insurance Counselors and Certified Mortgage Servicers.
Working with IL Group is a truly unique experience for our clients. We are insurance experts that you can trust to find the right coverage and to work with you on a daily basis to improve operations, deliver outstanding customer service and mitigate regulatory risk. We are continuously monitoring insurance options and rates to provide our clients the best coverage on an on-going basis.
Find out how you can best protect your portfolios and investments from increased compliance risk while improving both hazard and flood insurance operations.
Whatever the size of your REO portfolio, our team of insurance experts will work to develop an REO plan that protects the interests of your portfolio.
Amenities Protection Plus extends protection from wind, hail and flood damage to tennis courts, pools and parking lots. This coverage protects your association or business from losses on property which is normally excluded on standard wind or flood policies.
“Partnering with IL Group provides great value to our business operations as we work to put REO properties back into the housing market.”
“We highly recommend the IL Group team due to their level of commitment, hands on customer service and their knowledge of not only the insurance products and carriers, but also the knowledge of the major servicing platforms.”