Is your Hazard Insurance Tracking Provider taking care of your Customers?

December 4, 2015

December 4, 2015 As a mortgage servicer, you recognize the importance of adhering to exceptional borrower and customer service. The quality of service provided to your borrowers often dictates loyalty and profitability. If a borrower could receive the same services from anyone else, what would stop them from refinancing with one of your competitors? Sometimes […]

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Investor/Rental Property Coverage Considerations

November 25, 2015

More Americans are viewing renting residential homes as a feasible substitute to obtaining a mortgage to purchase a home. Across the population between 25 and 54 years old, the homeownership rate is at an all-time low of 65%. People under 30 years old make up 51% of the rental housing market in the US. In […]

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PFI is an Industry Leader in CFPB Compliance

September 8, 2015

When it comes to compliance and standards of performance, there are certain industry standards set forth by the Consumer Financial Protection Bureau (“CFPB”) that every third party vendor must adhere to. Third-party vendor standards for CFPB compliance include:  Developing an effective process for managing risk, ensuring that third-party relationships do not present a risk to the […]

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What is Blanket Hazard Insurance and Do I Need It?

June 24, 2015

Every day financial institutions make loans to people looking to purchase new homes and commercial properties. While larger institutions that issue Fannie, Freddie or GSE serviced loans tend to have sophisticated tracking mechanisms in place to identify the lack of insurance to secure the collateral, this is not always possible for the servicing industry as […]

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Why do banks and mortgage servicers choose Proctor Financial?

June 24, 2015

When choosing between providers of lender-placed insurance you know PFI has the experience and proven track record that keeps its clients in compliance.  With forty plus years of experience, 21% market share in the top 100 servicers, and 1500 loyal clients, the choice becomes easy. Experience 40+ years of experience writing lender-placed insurance 1,500 financial […]

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What is Forced Placed or Lender Placed Insurance?

May 28, 2015

You probably understand why it’s a good idea to have mortgage insurance (or an independent life insurance policy that will pay off your mortgage in the event of your death), but you might be confused about another type of insurance which banks utilize in the event a borrower lets their homeowners insurance lapse. This insurance […]

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PFI Releases New Compliance Webinar – NFIP, “Other Residential”

October 28, 2014

Does your institution service loans on “Other Residential” Buildings that require flood insurance? On June 1, 2014, the National Flood Insurance Program (NFIP) increased the maximum coverage limits for “Other Residential” Buildings. This change is primarily a result of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12). In response, Fannie Mae and Freddie Mac […]

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Is Your Institution Leveraging the Capabilities of IIM?

September 18, 2013

PFI’s proprietary software, IIM – Intelligent Insurance Manager serves as a portal for both outsourcing and lender placed insurance clients.  With IIM, users can view insurance tracking information & documents, generate management reports and access up-to-date compliance information.  Here are 3 ways IIM will benefit your institution: IIM is a free service. Available 24/7, users […]

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9 Things You Didn’t Know about Tax Services through PFI & ICG

July 10, 2013

1. PFI & ICG are sister companies owned by Brown & Brown, Inc., a NYSE company with $4.2B in market capitalization. Our one-vendor approach offers a synergy of outsourcing solutions for departments responsible for property taxes and insurance risk management. 2. Being a part of a publically traded company, ICG is required to maintain revenue […]

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PFI Places Top 50 in Top 100 Call Center Award from BenchmarkPortal

April 22, 2013

April 23, 2013 Troy, Michigan – Proctor Financial, Inc. (PFI) is proud to announce that it recently placed in the Top 50 in BenchmarkPortal’s Top 100 Call Center Award for 2013.   Receiving this designation is a testament to PFI’s management and employee dedication to balancing effectiveness and efficiency in operations resulting in exceptional call center […]

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