banner1.jpg

Blog

Bill Jones

Recent Posts

How Lenders are more Efficient with Blanket 360 Portfolio Insurance

Submitted by Bill Jones on August 16, 2018

How often do products come along that can significantly change your operation in a positive way? Lenders from all across the country face similar challenges when it comes to balancing budgets, managing workloads, and staffing levels while growing at the same time. Growth is great but means more files, more data, and more work for everyone.

Read More

Tips for Negotiating Long-Term Vendor Contracts for Lenders

Submitted by Bill Jones on July 31, 2018

Some vendors in the world of lending ask their customers to sign lengthy multi-year agreements and some also make it difficult to leave the agreement prior to the terms expiring. Read on for more information about negotiating contracts with vendors. 

 

First, you need to read the contract and pay special attention to the following:

  • Length of the term
  • Terms of exiting the contract early
  • Automatic renewals
  • Conditions for both parties
Read More

Do you have the Right Lender-placed Hazard and Flood Program?

Submitted by Bill Jones on July 18, 2018

To properly answer that question, you have to look at the entire program and the many different parts that are often overlooked. There are four different coverage sections that you should be evaluating:

  Lender-placed Hazard
  Lender-placed Flood
  Coverage for REO property
  Liability insurance for REO property
Read More

What does Blanket Mortgage Protection for Lenders Cover?

Submitted by Bill Jones on May 30, 2018

Many lenders who still manually track mortgage insurance may have heard of a solution to tracking mortgage collateral insurance called Blanket Mortgage Insurance.  But what does blanket mortgage protection typically cover? The master policy in many cases is identical to what would be issued in the typical tracking and lender-placed scenario. The same limits can be obtained, and all the same coverages and exclusions still apply. Some companies offer other versions of blanket mortgage, so it is important to clarify exactly what’s covered and what’s not. Blanket Mortgage can cover all real estate in your portfolios and can be separated out by portfolio.

Read More

Lenders Need Control Over Gap Waivers they Finance

Submitted by Bill Jones on May 16, 2018

This can be a touchy subject because of the close relationship that many lenders have with automobile dealers. However, that does not change the fact that there are serious concerns that should be taken into account by lenders when they finance Gap Waiver. Most lenders don't realize that Gap Waivers state clearly that they are addendums to your loan agreement and affect the way your loan performs when there is a total loss. When you finance a Gap Waiver, did you know that you, the lender, are agreeing to waive much or all of the remaining balance when your borrower’s primary auto policy doesn’t pay off the loan?

Read More

Are you still wasting time tracking insurance?

Submitted by Bill Jones on April 30, 2018

Is it time to take another look at your consumer auto loan collateral protection and insurance tracking? More and more lenders have begun to realize the shortcomings and administrative hassles common with Collateral Protection Insurance (CPI) programs using outsourced tracking.


Read More

Subscribe to Email Updates