Lender-Placed Hazard Insurance Programs

When your institution has thousands of homes in a portfolio, establishing checks and balances to ensure those properties are properly insured, claims are handled appropriately, and compliance needs are met is one tall order to fill. Often, financial institutions simply don’t have the staff or training to keep up with the ever-changing world of insurance tracking and placement. Adaptability is critical in a tracking and placement program.

Having a highly trained in-house team to monitor insurance coverage on your mortgage portfolio can become laborsome and costly. Service solutions include a web-based management, fully outsourced or partially outsourced lender-placed insurance programs. Each option serves a specific purpose to meet the needs of your institution.

MULTIPLE OPTIONSIDENTICAL GOAL

Evaluate your program from a portfolio prospective to determine which program suits your goal.

Turnkey Approach

Whether you need fully or partially outsourced lender-placed services, our teams can quickly scale the program as your portfolio grows.

Convenience for Borrowers

Monitoring and placing coverages isn’t all you need. Providing self-serve tools through multiple channels allows your borrowers the convenience of insurance verification by reducing the need to communicate directly with a live representative.

Compliance and Regulations

SWBC’s fully trained staff are backed by a program that’s internally audited and meets the CFPB, GSE, FDIC, RESPA, Biggert-Waters, NFIP and other guidelines. Our internal compliance team proactively monitors for new and updated compliance bulletins.

Managing General Agent

Using a three-tiered approach, we leverage the Managing General Agent model to provide support in three critical areas; Account Management, Operational Services, and Underwriting.

Trusted Partner

SWBC has more than 40 years of insurance tracking and placement for mortgage loans and portfolios. In that time, we’ve tracked more than two million loans for insurance and compliance for our financial institution partners.

Over 300 financial institutions, including some of the largest banks and mortgage servicers in the country, trust SWBC with their lender placement needs.

Tracking and Placement toSuit Your Portfolio Needs

Partial Outsourcing

By partially outsourcing your insurance tracking and placement, your financial institution can determine the level of involvement of your staff and then let SWBC’s experts take care of the rest.

Full Outsourcing

For financial institutions looking to hand off their insurance tracking and placement completely, SWBC’s fully outsourced program helps your institution take the process off your plate and into our team’s expert care. We’ll work with you to establish service level agreements and with our AutoPilot web portal, you can monitor the program through quick-glance and in-depth reporting options.

Web-based Management

We’ve invested a significant amount in facilities and infrastructure in recent years to build a tracking and placement platform that’s mobile-optimized and provides real-time data. With our exclusive AutoPilot® web portal, your staff can quickly view how your program is performing and discover trends to better optimize operations. AutoPilot serves as a one-stop-shop to review everything from borrower correspondence to monitoring service level agreements.

For institutions looking to improve their insurance tracking and claims operations, our customizable AutoPilot portal is available for your staff to view and manage your transactions. Our web-based portal is hosted by SWBC so there’s no need for lengthy IT installations. Another benefit includes free updates to the portal so your program remains in compliance with all regulations and bulletins.

Using AutoPilot, your team can bind new coverage for residential, commercial, and REO properties, cancel or modify existing certificates, and generate premium quotes on any property in the U.S. The technology was created as a user-friendly platform to make your insurance tracking program simple and effective.