Loan Protector's EasyLink(SM) Streamlines Insurance Tracking for Lenders.ORLANDO -- Loan Protector protector /pro·tec·tor/ (-tek´ter) a substance in a catalyst that prolongs the rate of activity in the latter. , a leading independent outsourcer of servicing technology and services, announced here at the Mortgage Bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. of America Association's annual conference that it has enhanced its Electronic Insurance Interchange An interchange is a location where two things meet, usually perform some kind of exchange, and possibly go on their ways again. It is most commonly used in four contexts:
"This service shows lenders that we are committed to not only providing the automation to help them streamline their business, but the services that will simplify the insurance tracking process," said Ron Wiser, president of Loan Protector. "Our technology is allowing servicers of all sizes to take advantage of a solution that larger servicers have used for years." EasyLink is a digital insurance clearinghouse that gathers homeowners' insurance information from all major insurance carriers and allows lenders to access the information electronically. With this service, lenders remain in control of their insurance function, while saving time and resources. As part of the EasyLink service, Loan Protector processes a master file or extract of the lender's portfolio and tracks all borrowers without current insurance. The software generates a series of custom warning letters to the borrower. During the cycle of letters, Loan Protector offers automatic coverage that protects lenders from any hazard insurance Hazard Insurance Insurance protecting a property owner against damages caused by fires or severe storms. If the owner lives in an area that is prone to natural disasters, like earthquakes and floods, he or she may need a separate policy. losses. If a borrower does not respond to the series of letters, the system automatically orders lender-placed coverage on the property. "With EasyLink, payment of premiums and most of the manual data entry on renewal premium information is eliminated," said Kent Manion, first vice president of Capitol Capitol, seat of the U.S. Congress Capitol, seat of the U.S. government at Washington, D.C. It is the city's dominating monument, built on an elevated site that was chosen by George Washington in consultation with Major Pierre L'Enfant. Federal, Topeka, Kansas This article is about the state capital of Kansas. For other uses, see Topeka (disambiguation). Topeka is the capital of the U.S. state of Kansas and the county seat of Shawnee County, which is named after the Shawnee Indians. . "While there are still some exceptions, the information that matches is accurate, and there is less chance for error because of the electronic updating of our records. We certainly improved our processing procedure and the processing of premiums by using EasyLink. "It also is a tremendous benefit to have a middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a process provided by EasyLink, which can communicate between the lender and the insurance company while reaching a common understanding and a standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. process. This benefits the lender, the insurance company and our borrowers." EasyLink offers lenders real time access to insurance data and documents to allow them to manage their portfolios in the way that's best for them. "We have been able to change the way the servicing industry approaches its business with our services and technology," Wiser said. "Servicers can work more efficiently, manage their portfolios better and save money." Every document Loan Protector receives and generates is imaged and available to the client via a secured online connection or on a CD. Through the EasyLink system, insurance records are saved instantly in the lender's servicing system, allowing real time access to the data and eliminating paper documents. "We are most proud of the fact that we have a solution that can help servicers notice real benefits quickly," Wiser said. "That's the kind of value we like to bring to our clients." 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 (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. 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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