Jim Gilpin
By Jim Gilpin
on June 22, 2020
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 ...
Jim Gilpin
By Jim Gilpin
on May 09, 2020
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 the Biggert-Waters Act ...
Jim Gilpin
By Jim Gilpin
on February 11, 2020
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 ...
Jim Gilpin
By Jim Gilpin
on January 07, 2020
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 ...
Jim Gilpin
By Jim Gilpin
on January 01, 2020
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 ...
Jim Gilpin
By Jim Gilpin
on December 02, 2019
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 ...
Jim Gilpin
By Jim Gilpin
on November 20, 2019
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 ...
Jim Gilpin
By Jim Gilpin
on October 01, 2019
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 ...
Jim Gilpin
By Jim Gilpin
on October 01, 2019
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 ...
Jim Gilpin
By Jim Gilpin
on July 16, 2019
Introduction On January 17, 2013, the CFPB released the changes to CFR Part 1024 Real Estate Settlement Procedures Act (Regulation X). These changes implement specific provisions of the Dodd-Frank ...