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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KwikRisk Provides Lender Placed Insurance Coverage for Special Needs, High Value Properties

February 15, 2012

Sometimes, traditional lender placed hazard and liability insurance products will not fit the lender´s needs for coverage, which could range from the type of property to covering equipment and machinery at the location. Proctor Financial, Inc. developed the KwikRisk® lender placed insurance program to insure hard-to-place or high value residential or commercial properties where the […]

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Proctor Financial, Inc. Teams with ICG to Offer Integrated Tax Services

December 7, 2011

We are pleased to announce that our parent company, Brown & Brown, Inc., recently acquired Industry Consulting Group, Inc. (“ICG”), a leader in providing integrated property tax solutions for mortgage servicers and industry clients since 1986. Proctor Financial, Inc. (“PFI”) and ICG will now be offering its respective clients integrated tax and insurance solutions to streamline escrow administration and […]

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IIM-Intelligent Insurance Manager: Your e-Client Portal for Preferred Policy Tracking and Lender Placement

September 14, 2011

With over 1,600 financial institutions utilizing Proctor Financial for lender-placed insurance servicing, PFI developed the flexible, state-of-the-art IIM-Intelligent Insurance Manager® system to allow these clients to view lender-placed activity – such as additions, terminations, refunds and claims – 24/7 through this user-friendly e-Client portal. A key feature of PFI´s proprietary system consists of the real […]

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Get Instant Property Replacement Cost Valuations with PFI´s ValueNOWTM Service

August 24, 2011

Proctor Financial, Inc. offers clients a variety of customizable lender-placed insurance products to protect and manage their risk exposures on real properties they own or service.  Additionally, PFI offers servicing solutions that complement these products such as ValueNOW™, a real-time web based property replacement cost valuation tool. ValueNOW offers an affordable option to establish the […]

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