Lender Placed Services

• Assist in the creation and administration of RFP questions and answers
• Work with servicer to determine appropriate program based on legal requirements:
  • Coverage types
  • Coverage amounts
  • Voluntary carrier rating
• Assist in evaluating best program structure available from carrier options (by peril, by state):
  • Amount
  • Admitted / E&S
  • Deductible options (in compliance with FHFA guidelines)
  • Single / dual interest
• Assist in looking for a voluntary offering for placed customers
• Evaluate options for condominium coverage as well as second lien protection
• Determine trackers ability to meet CFPB / regulatory guidelines:
  • Letter cycle timing
  • Refund requirements
  • Service levels
• Support any conversion from legacy lender placed solution to ensure no gaps in coverage
• Assist in contracting services and evaluating tracking fees
• Determine tracker / carrier ability to work with servicer’s system, including imaging if available
• Evaluate tracker’s ability to mitigate false placements
• Assist servicer in evaluation of additional products and services provided by selected tracker (escrow, loss draft, tax, etc.)
• Determine need for REO program and evaluate options
• Evaluate tracker’s use of off-shore resources