Real estate owned (REO) properties, or properties owned by a lender, bank or government agency, have higher levels of risk that translate into higher costs for insurance to the owners of REO property. Many insurers want to lump lender-placed hazard and flood insurance programs with the REO coverage, leaving REO property owners with little flexibility in their choice of providers and coverage.
IL Group can find the right REO insurance for your portfolio. We maintain relationships with the nation’s leading insurance providers, and our knowledge of these companies and their REO products enables us to create the right REO insurance solution to meet your needs, protect the interests of your portfolio, while also reducing risks and increasing efficiencies in the management of REO insurance operations.
Determining the right REO insurance coverage for your loan portfolio can be a complicated and difficult task. There are many policy options to choose from that impact not only the cost of the policies, but also the coverage that protects you from situations that can arise over the life of a loan. The IL Group can find the right coverage for your portfolio.
Contact us to find out how you can best protect your REO portfolios and investments and maximize your operational efficiencies.