Colorado Housing and Finance Authority Streamlines Servicing Operation Using Loan Protector's LPdirect.SOLON, Ohio Solon (pronounced Sew-len) is a city in Cuyahoga County, Ohio, and is a suburb of Cleveland in the Northeast Ohio Region, the 14th largest Combined Statistical Area in the United States. As of the 2000 census, the city population was 21,802. -- Colorado Housing and Finance Authority (CHFA CHFA College of Humanities and Fine Arts CHFA Connecticut Housing Finance Authority CHFA California Housing Finance Agency CHFA Canadian Health Food Association CHFA Colorado Housing Finance Authority ) has streamlined its residential mortgage servicing Mortgage servicing The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default , involved with a mortgage loan. operation using Loan Protector's LPdirect(SM), a web-based ordering system for lender-placed insurance. Loan Protector is a leading independent provider of lender-placed insurance programs, customized to each mortgage servicer's needs. By eliminating the need to work with paper forms, LPdirect enables CHFA to dedicate ded·i·cate tr.v. ded·i·cat·ed, ded·i·cat·ing, ded·i·cates 1. To set apart for a deity or for religious purposes; consecrate. 2. more resources and time to its core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
"LPdirect has significantly reduced the amount of time spent following-up on insurance coverages and requirements," said Tom Fleming Tom Fleming, CVO, OBE, FRSAMD (born June 29, 1927) is a Scottish actor, director, and poet, and a television and radio commentator for the BBC. Fleming's acting career began in 1945. , servicing manager for CHFA. "The technology is very sophisticated, but at the same time, very easy to use. We have access to all lender-placed insurance information, at any time of the day. LPdirect greatly streamlines the lender-placed insurance process and allows us to concentrate on meeting the needs of our borrowers." CHFA credits the technological enhancements and dedicated support staff at Loan Protector for its long-term partnership. "Whether I have a technical or general question, I can count on Loan Protector's staff to get me an answer the same business day," Fleming added. "That kind of support team is very reassuring. Loan Protector is a great company that is continually enhancing their systems to accommodate our needs." LPdirect offers immediate coverage with deferred issuance, system-generated notification letters and e-mail reminders to help with the borrower notification process. Additionally, servicers have the ability to customize notification letters according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the specific characteristics of their mortgage portfolio and the requirements of investors. "LPdirect is invaluable to servicers, significantly reducing the amount of time and resources spent obtaining lender-placed insurance coverages," said Ron Wiser, president of Loan Protector. "To ensure a portfolio is secure, a lender must have a uniform lender-placed insurance policy in place. LPdirect's innovative design gives lenders the ability to place insurance 24 hours a day, significantly reducing the chance of an unsecured property resulting in a loss within a portfolio." About Loan Protector Loan Protector is a leading independent provider of customized lender-placed insurance programs, designed to fit the specific requirements of each mortgage servicer and their investors. Loan Protector helps loan servicers  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. manage their insurance tracking, escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. premium payment, and lender-placed insurance processes in a secure, online environment. Loan Protector also offers a complete line of insurance tracking services, including full outsourcing of insurance tracking for commercial and residential mortgage servicers, using its state-of-the-art proprietary tracking software, EasyTrack(SM). For more information about Loan Protector call 800.545.6580 or visit www.loanprotector.com. |
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