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How Blanket Insurance Premiums are Calculated

Submitted by Golden Eagle Insurance, Inc on January 15, 2020

Many lenders have heard about how blanket portfolio protection can save them time and money, relieve examiner headaches, and make their operations more efficient with a far more customer-centric approach than tracking and force-placed insurance protection. But how is the premium calculated for various blanket protections? Read on to find out what the main considerations are for each type of collateral. 

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2020 Will Present Many Challenges to FI’s - Don’t Let Insurance be One of Them

Submitted by Tod Hastings on December 20, 2019

The last several years have been a whirlwind of change in the banking world, and this trend will only intensify as we move into a new decade. Technology advances are occurring at breakneck speed making it virtually impossible to keep up with. Who really heard of the terms “data analytics” or “cybersecurity” 10 years ago? Now they’re at the forefront of business planning.  While the challenges to FI’s will be many, insurance on your loans doesn’t need to be.

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Home Equity Lending Growth–Risk and Efficiency Concerns for Community Lenders

Submitted by Brian J. Ruhe on December 05, 2019

Targeted growth in home equity lending for a community lender can be a daunting task. The “big banks” dominate as they control roughly half of that market. If a community lender isn’t actively marketing home equity loans and lines of credit offerings, they are giving up potential market share to a handful of banking giants.

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How to get Maximum Benefits from your Collateral Protection Partners

Submitted by Golden Eagle Insurance, Inc on November 25, 2019

Linking your in-house or local insurance agent with collateral and loan protection agents can be beneficial.

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Auto Warranty Products Keep Borrowers Whole While Protecting your Assets

Submitted by Jim Perry on November 15, 2019

In today’s hyper-competitive auto loan market, lenders face the challenge of which products to provide to their borrowers in order to stand out; one of those products is an auto warranty. As automobile prices increase, so do the cost of repairs. With high automobile prices and high repair costs, even one major repair can cost more than the price of a borrower’s extended warranty.

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Beware of Changes with Tracking Vendors

Submitted by Bill Jones on October 31, 2019


During 2019 several insurance tracking vendors have canceled their relationships with numerous lenders throughout the country. Unfortunately, these vendors in many cases did not give adequate notice or time for the lenders to react and find an alternative. If you have already been forced to make a quick decision or are facing that decision, this blog post covers some options for you.

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Did You Hire a Company to Track Your Customer’s Insurance? Are You Getting the Best “Bang for Your Buck”?

Submitted by Tod Hastings on October 16, 2019

Many lending institutions made the decision long ago to outsource the important function of tracking insurance on secured loans including auto, mortgage, and equipment portfolios. From the outside looking in, this sounds like a perfectly logical process enhancement. After all, the very nature of making sure your collateral is insured can be cumbersome for an administrative staff already stretched thin with other duties. Unfortunately, sometimes the best-laid plans end up causing more grief than relief!

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Can I really stop tracking Insurance and force-placing CPI coverage on my loans?

Submitted by Bill Jones on September 30, 2019

It is very common for community lenders to acknowledge the shortcomings of insurance tracking and force placing CPI coverage on borrowers. We often hear from community lender executives and collection departments, that even though CPI coverage and outsourced tracking still entails a lot of work and causes a lot of problems, they really don't see any other solution other than switching to another insurance tracker. Many are very excited to find out that there is another option.

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Does “Fees” have to be a Four-Letter Word?

Submitted by Golden Eagle Insurance, Inc on September 16, 2019

Preparing for another Board meeting, studying the most recent Income Statement and reminiscing about the margins of days gone by...It used to be a lot easier to meet or surpass the board and/or shareholders' expectations.

The Federal Reserve rate was just reduced to 2.25% and as of August 1, 2019, the discount rate for institutions to borrow funds is 2.75%; however, all indications lead us to believe that there will be no further reduction this year.

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Mitigating Risks by Understanding your Collateral Protection Policy

Submitted by Golden Eagle Insurance, Inc on August 30, 2019

Reviewing your lending institution’s collateral protection policies may not be at the top of your priority list. Who really wants to scour through the fine print of a policy that could easily exceed one hundred pages? These cumbersome policies are contracts that spell out the obligations of both the insurer and the insured using complex language and technical jargon which can be difficult to interpret. Due to the assignment of responsibilities to both parties, it is vital to take the time to understand your policies and the obligations outlined within.  

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