The continuation of a revitalized home equity lending sector is attributed to many factors, including reduction in disposable income, rising credit card balances, and inflation. HELOC growth is ...
Learn about a proven risk transfer insurance product that provides broader borrower eligibility to confidently grow your HELOC and unsecured home improvement loan portfolios in a rising rate ...
We are often asked “What is mortgage impairment insurance and why do we need it?” In this article, we’ll explain the what and why of this specific type of insurance.
You’re here because you may have heard that insurance tracking fees can be part of RESPA settlement services, or you may possibly already be utilizing this strategy. So, is it allowed? The short ...
In this article, you will learn about a proven risk transfer insurance product that provides broader borrower eligibility. This enables you to confidently grow your HELOC and unsecured home ...
Commercial flood insurance helps to protect invested parties (business owners, lenders, etc.) from the costs of flood water damage. It covers both a building and its contents.
Chances are, if you are a lender or insurance tracking provider, you have heard of the Real Estate Settlement Procedures Act (RESPA). RESPA was signed into law in December 1974 with the intent to ...
Hub International Strengthens Lender Placed Insurance Capabilities For Financial Institutions With Acquisition Of The Assets Of Miniter Group In Massachusetts
This blog explains why and how Miniter Group merged with HUB International's Financial Services Division. I must disclose first that Julianne and I have been married for 25 years and have two ...
Here at Miniter Group, we are no strangers to the ever-changing force placed insurance regulations. As a matter of fact, we find joy in diving deep into the latest regulatory updates that affect our ...
The one unlawful and litigious thing you may not realize about CPI insurance What is Collateral Protection Insurance? Borrowers and lenders, who are new to their role often ask: "What is Collateral ...
Don’t let your bank fall into the hazards of Flood Compliance 2.0 Updated October 25, 2022 On April 1st, 2022, FEMA implemented Phase II of their new rating system, Risk Rating 2.0. The National ...
Lenders need to know these ways to help their customers with the flood insurance map Since Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012, lenders and borrowers have ...
Updated October 19, 2022 Starting in '73, here's an overview of the joint agencies' rulemaking regarding federal flood insurance regulations Introduction Many loan servicers have spent ...
Updated September 8, 2022 Introduction Force-Placed Flood Insurance is regulated by the Joint Regulatory Agencies. The Joint Agencies consist of the FDIC, Federal Reserve, OCC, NCUA, and FCA. These ...
ROCKLAND, Mass., April 9, 2021 /PRNewswire-PRWeb/ — The Miniter Group Q2, 2021 Newsletter Issue offers valuable information on Risk & Compliance, Force-Placed Insurance & COVID-19 and ...
ROCKLAND, Mass., March 26, 2021 /PRNewswire-PRWeb/ — This white paper takes a deep dive into the redesigning process of the way NFIP policies are rated. It describes how the new rating system, called ...
NORWELL, Mass., Feb. 2, 2021 /PRNewswire/ — Miniter Group today publishes informative industry material in their second quarterly e-newsletter. Jim Gilpin, EVP & COO of Miniter Group, comments ...
NORWELL, Mass., Jan. 15, 2021 /PRNewswire/ –Miniter Group’s upcoming webinar will examine the significant compliance issues since the CFPB began updating RESPA. The panel will discuss these issues in ...
NORWELL, Mass., Dec. 2, 2020 /PRNewswire/ — Miniter Group today announced their Christmas fundraiser for Rockland Holiday Magic. Miniter Group continues its tradition of donating toys to the ...
NORWELL, Mass., Nov. 24, 2020 /PRNewswire/ — Miniter Group today announced the launch of their quarterly newsletter as a platform to communicate relevant industry information with their existing ...
NORWELL, Mass., Oct. 13, 2020 /PRNewswire/ — Miniter Group today announces an October webinar to cover flood risk and regulation. The webinar will provide a detailed compliance refresher for loan ...
NORWELL, Mass., Aug. 4, 2020 /PRNewswire/ — Miniter Group today announces Donald Marthey has accepted a new role as the Vice President of Business Strategy and Tracking Operations. Don will oversee ...
Introduction This blog post will be the 6th and final post for this series on Challenging the Force-Placed Insurance (FPI) Business Model. We have covered the early history of FPI, discussed how ...
Updated: September 22, 2022 Introduction The history of Force-Placed Insurance would not be complete without including the force-placed flood insurance turmoil that occurred after the 2012 passage of ...
Introduction In part 3, we discussed how money center banks created a force-placed insurance fee income source using captive insurance companies owned by the lenders. In this segment, we will discuss ...
Introduction To understand why the words “force-placed insurance” appear in the Dodd-Frank Law 331 times, we have to look back on how the money-center banks partnered with the force-placed insurance ...
What Is Force-Placed Insurance? Force-placed insurance is commonly used by most lenders to transfer property risk associated with Commercial, Residential, or Vehicle loans. Force-placed insurance has ...
Introduction “Challenging the Force-Placed Insurance Business Model” will take the next two blogs to review the history of Force-Placed Insurance. These blogs will be a deep dive into our past. In ...
Introduction We’ll get the group off to a fast start by challenging the force-placed insurance business model. I’ll get us started by giving an overview of the legacy business model that has been in ...
Introduction to Mortgage Impairment Insurance Collateral and Operational risks can be catastrophic risks that are unpredictable. These include collateral being destroyed by a fire or flood, as well ...
What is VSI Insurance? VSI Insurance is an insurance program for lenders that transfers collateral risk from their vehicle portfolios. VSI insurance premium is collected as part of the loan ...
How to comply with CFPB lender-placed insurance regulation Updated August 23, 2022 On January 17, 2013, the Consumer Financial Protection Bureau (CFPB) released the changes to CFR Part 1024 Real ...
Introduction to GAP Claims Processing Indirect lenders across the country are required to finance the price of their dealer’s GAP contracts and provide the associated GAP Claim Processing. These ...
Introduction During the due diligence process of evaluating risk transfer alternatives for your vehicle portfolio, all lenders must answer the question of whether to manage physical damage risk or ...
Introduction Regulators have raised their scrutiny of critical vendor relationships involving sensitive data. The current FDIC Compliance Examination Manual has 104 items listed for review to ...
Introduction Skip losses that occur as part of a lender’s vehicle portfolio have made a significant increase since 2014 and now represent over 50% of all vehicle losses. Vendor Single Interest ...
