We are often asked to cover how RESPA applies to lenders in a more succinct fashion than one finds on the federal reserve website documents. How RESPA applies to LPI and other coverage has evolved ...
Force-placed insurance, while designed to protect lenders' interests, has undergone significant regulatory scrutiny over the years, leading to profound implications for lending institutions.
Force-placed insurance, also known as lender-placed insurance, is a critical aspect of risk management for lenders. However, navigating the regulatory landscape surrounding force-placed insurance can ...
Portfolio lenders, including banks, credit unions, and mortgage companies, manage a diverse range of loans secured by collateral that almost always require insurance coverage.
Elevate your understanding of Mortgage Impairment Insurance with insights from our upcoming webinar hosted by Chris Riley, Chief Strategy Officer at HUB Financial Services.
Are you curious about Mortgage Impairment Insurance and its role within the collateral protection stack? Join us for an engaging webinar hosted by Chris Riley, Chief Strategy Officer at HUB Financial ...
The Consumer Financial Protection Bureau (CFPB) plays a crucial role in regulating financial institutions and ensuring consumer protection. When it comes to Lender-Placed Insurance (LPI), the CFPB ...
The Real Estate Settlement Procedures Act (RESPA) is a federal law designed to protect consumers and promote transparency in the real estate settlement process. One area where RESPA plays a ...
Join us on Feb 29th at 2pm EST as Miniter Group presents another complimentary webinar. We’ll be focusing on 2024 Industry Trends in this Q&A-style session. I’ve outlined these 30-minutes to ...
Lender Placed Insurance (LPI), also known as Force-Placed Insurance, has undergone significant transformations in recent years. This specialized insurance serves as a safety net for lenders, ...
Please join Miniter Group on January 25th for an enlightening hour-long webinar titled "Insurable Value: Building a Solid Foundation," hosted by Emily Carr-Stephens, Holly Walton, and Jen Van Horn.
Miniter Group is kicking off 2024 with our first complimentary webinar titled "Insurable Value: Building a Solid Foundation," featuring hosts Emily Carr-Stephens, Holly Walton, and Jen Van Horn.
As we look toward 2024, Miniter Group is proud to be the leading provider of Borrower-Centric Insurance Tracking solutions for lenders. Between navigating the complexities of regulations, to ...
Navigating the regulatory landscape in the lending industry is no small feat, especially when it comes to lender-placed insurance. The Consumer Financial Protection Bureau (CFPB) plays a vital role ...
In the intricate landscape of lending, where regulation and compliance are of the utmost importance, flood insurance compliance stands as a crucial pillar of protection for lenders.
The importance of flood insurance cannot be overstated. Homeowners and lenders alike know flood damage can lead to notable financial losses without proper insurance.
Miniter Group invites you to join our upcoming 30-minute webinar, "The Do's and Don'ts of Flood Compliance: Tips for Success" where we will share our data-backed knowledge for maintaining flood ...
Unexpected events like accidents, theft, or natural disasters pose significant financial burdens on a borrower, negatively impacting a lenders’ ability to continue receiving loan payments. Vendor ...
Vendor Single Interest (VSI) insurance safeguards lenders against potential losses in their vehicle portfolios. This strategic solution offers many benefits but requires careful tracking management ...
As a lender, managing risk is an integral part of your business. In certain situations, lenders need to implement force-placed insurance to protect their interests. These process is highly regulated ...
In today's dynamic market, lenders need to protect their collateral more than ever. For lenders offering vehicle loans, CPI Insurance is a worthy consideration as inflation continues and recession ...
Join us September 14th at 2pm EST as Miniter Group presents another complimentary webinar. We’ll be focusing on Flood Compliance in this Q&A-style session. I’ve outlined these 30-minutes to ...
Miniter Group and our Compliance Officer, Emily Carr-Stephens, would like to invite you to an interactive and informative session, designed exclusively for lending professionals. Joining us from HUB ...
In the complex world of force-placed insurance compliance, my job is to find the “needle in the haystack” and answer your most difficult, detailed questions.
Navigating the compliance requirements set forth by the Consumer Financial Protection Bureau (CFPB) is crucial for lenders when it comes to lender-placed insurance.
GAP contracts are often financed through dealerships. These debt cancellation insurance policies protect the borrower and lender from losing money in the event of a total loss.
The 2023 National Flood Conference took place earlier this month in Washington D.C. and I had the pleasure of attending. While there, I learned of NFIP congressional updates to the flood regulations.
Vendor Single Insurance, also known as VSI Insurance, is designed for lenders who desire to transfer the risk of default on their vehicle originations.
Flood & RESPA Guidelines are relevant to all mortgage lenders. Insuring residential portfolios requires a combination of lender-placed insurance, blanket insurance for HELOCS and Condominiums as ...
You know that implementing force-placed insurance, also referred to as lender-placed insurance, includes a multitude of regulations that require you to take itemized steps to stay compliant.
Collateral Protection Insurance is a fantastic tool in any lender's portfolio. While it comes with a host of regulations, it’s our job to ensure you are compliant and reduce any risk associated with ...
If you’re seeking a vendor who knows what they’re doing when it comes to VSI (Vendor Single Insurance), we look forward to answering any questions you may have.
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 ...
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 July 22, 2024 On January 17, 2013, the Consumer Financial Protection Bureau (CFPB) released the changes to CFR Part 1024 Real Estate ...
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 ...
