Insurance

Vetting Insurance Coverages, Policy Forms, and Agents

By |2024-01-29T09:31:02-06:00September 6th, 2023|Fundamentals|0 Comments

Understanding appropriate coverages for the situation and working with reputable agents goes a long way to protect both the lender and the borrower. Insurance, often viewed as the less glamorous side of a business transaction, tends to be a topic that receives minimal attention. Yet, its significance cannot be overstated: Insurance is a crucial part [...]

By |2024-01-29T09:31:02-06:00September 6th, 2023|Fundamentals|0 Comments

Addressing REO/Lender-Placed Insurance Coverage Issues

By |2022-11-08T14:49:33-06:00November 9th, 2022|Operations|0 Comments

Understanding common issues with REO properties is the first step in protecting your investment. In the first six months of 2022, lenders foreclosed on a total of 20,750 U.S. properties. This number is up 30% from the last half of 2021 and 113% from the first half of 2020. Double-digit increases are expected in the [...]

By |2022-11-08T14:49:33-06:00November 9th, 2022|Operations|0 Comments

How Inflation Is Impacting Insurance Premiums

By |2022-10-25T18:05:45-05:00October 26th, 2022|Operations|0 Comments

Inflation is affecting real estate investor insurance rates—and will hurt returns. Insurance premiums across the board are increasing at a fever pitch due to rising inflation and the increase in catastrophic weather events. Although there are a few practical ways to keep insurance costs from rising, inflation, labor trends, supply chain issues, and weather events [...]

By |2022-10-25T18:05:45-05:00October 26th, 2022|Operations|0 Comments

Loan Operations and Insurance

By |2021-08-16T17:04:52-05:00August 16th, 2021|Operations|0 Comments

Make sure you have the correct insurance processes and operations in place, so you and your borrowers are fully protected in the wake of a catastrophic event. Let’s face it—insurance is often one of the last items many lenders verify before closing a loan. As a lender, you can take several steps to streamline your [...]

By |2021-08-16T17:04:52-05:00August 16th, 2021|Operations|0 Comments

Don’t Let Your Insurance Requirements Get You in Hot Water

By |2021-06-08T14:32:57-05:00April 27th, 2021|Featured, Strategy|0 Comments

Forty-two states have a law that say you can’t require too much dwelling insurance. Insurance. Just the word can conjure up anxiety and dread in many people, especially those involved with the life cycle of a loan. Most lenders have horror stories of situations where they’re ready to close a loan, only for the closing [...]

By |2021-06-08T14:32:57-05:00April 27th, 2021|Featured, Strategy|0 Comments

Insurance Coverage Guidelines for REO Properties

By |2021-03-15T15:45:38-05:00March 15th, 2021|Featured, Strategy|0 Comments

Make sure your properties are appropriately covered if the expected wave of foreclosures hits. Foreclosures are expected to surge in 2021 because of the pandemic and subsequent financial crisis. Some people believe they may double (or worse). As a lender, you must be prepared secure insurance on these properties. Whether you are a large lending [...]

By |2021-03-15T15:45:38-05:00March 15th, 2021|Featured, Strategy|0 Comments

Part 2 of a 6-part series: Cover Your Asset

By |2020-04-03T17:47:23-05:00March 18th, 2019|Servicing|0 Comments

Other Articles in this Series: Part 1 of a 6-part series: The Very Last Nail Part 2 of a 6-part series: Cover Your Asset Part 3 of a 6-part series: The Foreclosure Process Part 4 of a 6-part series: Strategies for Loss Mitigation and REO Disposition Part 5 of a 6-part series: Turning Property [...]

By |2020-04-03T17:47:23-05:00March 18th, 2019|Servicing|0 Comments

Your Guide to Insurance Lending Requirements

By |2019-01-07T17:37:25-06:00December 12th, 2018|Strategy|0 Comments

Require borrowers to carry adequate property and liability insurance to minimize your risk of an investment property If you’re lending money on an investment property, you should have a specific set of insurance lending requirements, or insurance coverages (both property and liability), that your borrowers must purchase and carry throughout the duration of the loan [...]

By |2019-01-07T17:37:25-06:00December 12th, 2018|Strategy|0 Comments

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