In today's self-service society, many drivers may forego the insurance agent and simply quote a price for insurance online. Unfortunately for lenders, this trend toward DIY insurance arrangements can mean that borrowers are more likely to become uninsured or underinsured at some point during the repayment process, putting themselves...
Forced placed insurance has come under the scrutiny of regulators as it relates to mortgage lending. Auto lending is the next logical extension of this scrutiny. Providing “free” tracking services to financial institutions and including these costs in the insurance premium is clearly not desired...
Lenders Single Interest Insurance, commonly known as Blanket VSI or LSI, protects a lender’s interest in the collateral securing a loan when the borrower’s required insurance on the collateral lapses or is canceled. Coverage is provided on a blanket basis to loans originated on and after the...
Forced placed auto insurance (CPI) has come under the scrutiny of various regulators as it relates to auto lending. The situation with Wells Fargo is a great example of recent regulatory issues with CPI Programs. Due to these recent changes, many Lenders are considering a...
Lee & Mason has begun rolling out a new online claims interface for Blanket Lenders Single Interest (aka Vendors Single Interest) and Gap Waiver Insurance claims. The new system features two-factor login security. The interface has a bright new look and feel, including dashboard navigation and...
By now you’ve likely seen it firsthand – nationally, new mortgage purchases are down year-over-year as interest rates return from historic lows and home prices continue to appreciate. For those already in their ‘forever’ home, many are seeking ways to put that growing equity to...
Lee & Mason Financial Services is pleased to announce that Daniel Rolf has joined the company as a Regional Sales Manager for the North & South Carolina markets effective December 1st, 2018. Daniel graduated from University of Louisville in 2006 and spent several years with Humana...
When it comes to risk managing real estate portfolios there are many insurance programs available to lenders with a broad spectrum of coverage, limits and cost. Understanding that every institution is different, we consult and customize coverage for our clients based on their portfolio composition, lending...
Our Protequity program, backed by Nationwide, allows Lenders to increase loan-to-value for equity and second mortgages, while being protected from loss due to borrower default. Eligible Loans include; Closed End Equity Loans, Open End Home Equity lines of credit, Purchase Money Seconds (Piggyback Loans) and Home...
With regulations tightening around Real Estate servicing and force placed (hazard & flood) insurance Lee & Mason is having great success with our Outsource Insurance Tracking program. Many of our clients are looking to streamline their loan servicing operation by fully outsourcing their insurance tracking...