Bridge60 is a lender-placed flood program that protects residential, commercial, REO, and mobile home properties located in flood zones. Insurance limits mirror the National Flood Insurance Program with immediate coverage during the borrower notification period.
With Bridge60, residential owner-occupied claims are settled on a replacement cost basis. This results in significantly higher settlement when claims are adjusted on replacement cost basis. Claims are settled at RCV even if the property is not repaired. The decision to repair the property is the lender’s choice. Claims are settled on average within 45 days of loss.
Flexible reporting options are available, ranging from web-based self-reporting to automated lender placement and full outsourcing with servicing system integration.
uReport is our proprietary reporting tool for automated lender-placement, tracking policy expiration dates, edit billing functions, premium calculations, claim reporting, and lender-placed borrower notifications.
Borrower Notification Letters or Templates
CFPB-compliant borrower notification letters and cycle specific to lender’s business rules. Letters include warning, bind, annual renewal, and cancellation.
Dedicated Proctor representative to assist with refunds & billing options.
Outsourced Insurance Tracking
Includes insurance tracking driven by compliant business rules, thorough servicing system integration, transparent vendor management via proprietary tracking tool Intelligent Insurance Manager (IIM), policy procurement, mail servicers, escrow disbursement services, award-winning borrower care center.
Replacement Cost Valuation
ValueNOW is a real time property replacement cost valuation tool for residential and commercial properties using three national public property data sources.
Real Estate Tax Services
Comprehensive tax tracking, payments, tax certifications, and redemption processing.