Real Estate and Consumer Loan Insurance Program
van Wagenen Financial Services, Inc.
| Program Benefits | Market Profile | Program Contacts |
Providing Cost-Effective Solutions to Cover Uninsured Risks...
The Real Estate and Consumer Loan Insurance Program is designed to protect a participating bank from uninsured losses on mortgage and consumer loan portfolios. The program offers a variety of ways for the bank to enhance the profitability of its loan portfolio. van Wagenen's program identifies uninsured loan and mortgage collateral, and offers insurance products that are available to conveniently cover the uninsured risks. Products and services endorsed by the American Bankers Association through its affiliate, the Corporation for American Banking, include:
- Collateral Protection Insurance Program
- Loan Insurance Tracking
- Lease Insurance Tracking
- Lender Placed Dual Interest Insurance
- Lender Placed Single Interest Insurance
- Immediate Issue Insurance
- Blanket Vendor's Single Interest Insurance (Consumer Loan)
- Real Estate Property Insurance Program
- Mortgage Insurance Tracking
- Lender Placed Hazard Insurance
- Lender Placed Flood Insurance
- REO/Foreclosure Insurance
- Blanket Vendor's Single Interest
- Mortgage Impairment and E&O Insurance
PROGRAM BENEFITS
Banks are faced with the daily task of identifying uninsured collateral. This process is cumbersome and resource intensive. Once collateral is identified as uninsured, coverage is often difficult to find and expensive. The Real Estate and Consumer Loan Insurance Program offers insurance compliance, cost efficiencies and reasonably priced coverage.
Unlike other loan- and lease-related insurance programs, this ABA-sponsored program is designed to successfully match the right type of coverage system to the individual needs of the bank. The participating bank will realize considerable savings by outsourcing the insurance follow-up responsibilities and having access to reasonably priced insurance coverage.
MARKET PROFILE
The program is appropriate for any bank or lender, regardless of size, that is involved in secured lending and lessors for automobiles, mobile homes, motorcycles, other chattels and commercial and residential mortgage loans. Programs are available that benefit all lenders.
PROGRAM CONTACTS
van Wagenen Financial Services, Inc.
6483 City West Parkway
Eden Prairie, MN 55439-0831
(800) 437-5171 or (612) 833-9100
Contact: Jan Alto; Tel: (952) 833-9137
Web Site: http://www.vanwagenen.com/
CAB CONTACT PERSONS
Monica Condon Tel: (202) 663-5475
Lisa Gold Schier Tel: (202) 663-5098
Questions? Please contact Jackie Lucas for more information.
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