Internet Reporting Makes Lender-Placed Insurance Simple, Quick for Financial Institutions

August 3, 2011

Proctor Financial has developed Internet Reporting to provide financial institutions of all sizes with a quick and easy process to add, change or terminate lender-placed hazard insurance (or flood insurance) on residential, commercial, mobile home and REO properties. Within minutes, Internet Reporting allows a lender to: add lender placed hazard or flood insurance coverage to […]

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REO Insurance Protects Clients Portfolios for Vacant, Foreclosed Properties

August 3, 2011

As an increasing number of individuals and families struggle to make mortgage payments in today´s economy, REO insurance has become a preferred risk management tool for lenders.  Since these homes are vacant or foreclosed, financial institutions protect their portfolio by insuring their real estate owned (REO) properties with appropriate coverage from potential damage such as […]

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PFI Simplifies Insurance Tracking, Reporting Through Web-Based Applications

July 7, 2011

Every financial institution associated with Proctor Financial, Inc. has customized needs for their force placed insurance on residential, commercial and REO properties. PFI works with each lender to develop either a complete insourcing or outsourcing solution which fits the client based on size of portfolio and anticipated service deliverables. Big or small, Proctor Financial offers […]

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Flood Insurance Reform Act of 2011 could affect forced placed insurance program

June 30, 2011

Proctor Financial, Inc. is keeping track of various proposed legislation, including the H.R. 1309: Flood Insurance Reform Act of 2011. In general, the bill provides for a 5-year extension of the National Flood Insurance Program (NFIP), phases out some rate subsidies, raises premiums and also addresses force placed flood insurance. The bill, as originally proposed, […]

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MERS Court Ruling Affects Financial Institutions with REO Properties in Michigan

June 21, 2011

Note: This story is provided as informational only for PFI´s clients and any actions should be reviewed with your legal counsel to ensure the proper action is taken by your company. Michigan homeowners have found their foreclosed properties in flux based on a recent Michigan Court of Appeals decision.  In the case referred to as […]

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