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Golden Eagle Insurance, Inc

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Top 4 Questions Lenders have about Lender-Placed Insurance

Submitted by Golden Eagle Insurance, Inc on February 14, 2020

Compliance Reminder for Lender Placed Hazard and Flood

Regulations can be confusing. There are mountains of inquiries and revisions to the revisions… So, below we've attempted to summarize a response to the top four questions we are asked. Be aware, that fines can be in the thousands of dollars should these regulations not be followed. Read on to get answers to the four most frequently asked questions.

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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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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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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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Blanket Equipment Coverage Eliminates Losses on Difficult to Track Commercial & Industrial Equipment

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

While many lenders are familiar with blanket coverages designed to eliminate the need to track and force-place insurance on mortgage and titled portfolios, fewer may be familiar with an alternative blanket coverage designed to protect the lender’s commercial equipment portfolio in cases of lapsed insurance coverage.

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The Use of AI in Loan Decisions

Submitted by Golden Eagle Insurance, Inc on March 15, 2019

 

Across the world, machines are getting smarter. Artificial Intelligence, or the theory and development of computer systems able to perform tasks that typically require human intellect and decision-making, impacting our lives and is already present in our day-to-day lives.

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The Four Options to Protect Consumer Loan Collateral for Lenders

Submitted by Golden Eagle Insurance, Inc on February 18, 2019

For financial institutions to properly protect consumer loan portfolio collateral, there are four basic options to consider when determining what type of portfolio protection insurance is best for them, as well as, their borrowers.

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The Impact of Longer-term Auto Loans on Lenders

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

There are nearly 270 million vehicles registered in the United States, making the country the second largest vehicle market after China. Despite having 1.2 cars per driver, the US continues to see growth in new and used auto sales and auto loan origination. Lenders know that auto loans today look entirely different than those from the past. Gone are the days of predominantly three- to five-year loan terms. Nowadays, most loans are made with terms of five to seven years. While this may not seem like a significant change at first glance, there are many potential ramifications for drivers and lenders once you look under the hood, so to speak, of these trends. Read on to find out how these factors affect lender risk management. 

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Newswire-Golden Eagle Insurance Transforms the Way Lenders Protect their Portfolios

Submitted by Golden Eagle Insurance, Inc on December 29, 2018

Golden Eagle Insurance, Inc. announced a new bundle of Blanket Insurance Products designed to cover the risk a lender carries in their collateralized loan portfolio when the borrower's coverage lapses. Blanket 360, the latest product in the company's portfolio protection line for lenders, covers collateral immediately after loan closing, eliminating the need for tracking and making lender operations more efficient. "Blanket Insurance protections are a very simple and cost-effective way to eliminate virtually all internal insurance tracking after a loan is closed," said Bill Jones, President of Golden Eagle Insurance, Inc.  

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