Protecting the many types of collateral that secure these valuable relationships.
Lee & Mason's expertise extends well into commercial lending. Whether it is a loan, lease or SBA loan involving a variety of collateral, we recognize these are the most challenging coverages and offer a variety of potential solutions.
Non-Real Estate Collateral
- Some lenders prefer not to track insurance after it’s verified at loan origination. Instead, they purchase a Commercial Lender’s Single Interest (CLSI) insurance policy. This provides the lender physical damage protection when collateral is repossessed, and they discover damage that occurred without voluntary coverage in place.
- For leasing companies and equipment finance lenders, our clients have access to an online platform that allows for instant collateral enrollment as a point-of-sale alternative to outside insurance or in response to notification the borrower/lessee’s coverage has cancelled or non-renewed.
- Lee & Mason also offers tracking services that can be targeted specifically to equipment finance, C&I lending and leased portfolios. This allows an insurance expert to take the lead while providing real-time access to your portfolio — supplemented by robust reporting.
Real Estate Collateral
- MortgageHazard.com allows Lee & Mason’s clients to immediately bind lender-placed (Hazard and/or Flood) or foreclosed/REO (including Liability) coverage when exposures arise within their portfolio. This typically includes a maximum value per property between $1M and $5M and includes the ability to bill coverage monthly and receive pro-rata refunds.
- Lenders often employ Blanket Mortgage coverage for commercial real estate that eliminates the need to verify Hazard insurance after loan origination. Limits are available up to $5M.
- Lee & Mason offers tracking services for commercial real estate and SBA portfolios. This allows you to offload insurance mail processing and external verification while having real-time access to your portfolio via Intrex and supplemented by robust reporting.
- Our 1-Off program is designed for individual commercial needs or high-value situations beyond the scope of a lender’s master policies (accessed via MortgageHazard.com or Intrex). 1-Off allows us to underwrite individual policies that better cover these nontraditional exposures.