As the nation’s largest privately-held provider of lender-placed hazard and flood insurance, SWBC works with multiple top carriers to provide customized programs for portfolios of all sizes, with multiple management options ranging from self-service to turnkey outsourcing that includes tracking – all delivered with our exceptional service to you and your borrowers.
- We work for you, not the insurance carrier
- Multiple delivery options from self-service to turnkey outsourcing
- Coverage options include hazard, flood, REO, or a combination of all three to cover uninsured or under-insured residential and commercial properties
SWBC delivers a custom lender-placed insurance program depending upon the size of your portfolio and how more or less involved your institution would like to be in tracking and insuring your loans. Let us partner with you to help determine the best solution to suit your needs.
A cost-effective option for institutions with smaller portfolios and just a few REO properties.
Using our exclusive FocusNet® technology, your team will manage all transactions regarding insurance coverage for your borrowers with uninsured or underinsured properties through an easy-to-use web-based interface.
- Order or cancel policies
- File claims on properties
- View loan history and status
A good option for robust account management suitable for those with medium to large portfolios.
With automated processing, SWBC will receive and process weekly transmissions of your loan data to identify lapsed coverage based upon data in the file. We will then mail private-labeled notifications to your borrowers as appropriate and place coverage when necessary, as well as handle mailing of certificates and refunds on your behalf.
An ideal solution for institutions with medium-sized to very large portfolios that need assistance with certain functions in order to remain efficient.
Much like a cafeteria plan, you may select to outsource only the services that will help you to better manage your lender-placed insurance program. Choose from our comprehensive menu of services which includes tracking and mailing notifications to your borrowers with lapsed coverage, mailing certificates and refunds on your behalf, or placing insurance when necessary. With partial outsourcing, you choose exactly how much or how little your staff should be involved, and let SWBC do the rest.
A turn-key, efficient solution for institutions with large to very large portfolios.
SWBC can provide full scale outsourcing where your institution’s loan portfolio is automatically reviewed and monitored for appropriate coverage. To make your program seamless for your borrowers, SWBC will private-label and manage your program, to include inbound and outbound calling, processing your insurance-related incoming mail, and general customer service functions. As your partner, we’ll establish service level objectives, as well as parameters that identify the length of time between phone calls, mail, and insurance placement according to your institution’s guidelines.
SWBC provides lender-placed programs to more than 600 financial institutions nationwide. As the largest privately-held Managing General Agency offering lender-placed products to financial institutions, our exceptional relationships with the leading carriers ensure our clients will receive the best coverage at highly competitive prices.
No matter your loan portfolio size, SWBC’s expertise in risk management products, processes, and technology design allows you to maintain the proper balance between growth, customer value, service, and profitability.
- Comprehensive coverage, including flood, for a borrower's lapsed or insufficient coverage.
- Protection for all classes of real property, including REO coverage.
- Dual interest programs protect both the financial institution and the borrower.
- Loans with multiple collateral or multiple loans with single collateral are tracked.
- Can be applied to first and second mortgages.
- System integration with all servicing platforms.
- Safe and secure; SWBC is SAS 70 Level II Certified.
- Service Level Guarantees are built-in.
- Precise invoicing system with detailed reporting, with monthly or annual billing options.
- Web-based programs provide round-the-clock access to information.
- Powered by our proprietary COTRAK® suite of services to bring state-of-the-art workflow, document management, and contact center technology to your program.