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 ...
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.
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 ...
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 ...
