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Internet Reporting Makes Lender-Placed Insurance Simple, Quick for Financial Institutions
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 a property by entering minimal information (property address, property type, loan data and mailing address;
- change information/coverage on a property already entered into PFI´s system; or
- terminate lender-placed insurance on one or multiple properties
The lender also will receive a confirmation e-mail on each add, change or termination, which can be printed for their records.
This convenient, 24/7 web-based application provides financial institutions with a self-sufficient LP insurance reporting system, which eliminates the administrative burdens of handwriting paperwork, faxing documents and following up with phone calls.
Lenders utilize Internet Reporting in conjunction with PFI´s LP hazard insurance (Mortgage Guard®) or LP flood insurance (Bridge60®). Based on a lender´s needs, PFI also has innovative insurance reporting and tracking solutions (InForcer® and IIM-Intelligent Insurance Manager®) and full Insurance Outsourcing including, but not limited to, imaging, mail processing, call center and residential/commercial insurance tracking.