50 years of experience can’t be invented or imitated. Our deep understanding and knowledge guide our best-in-class program. Three primary differentiators: 1) We proactively collect your borrower’s insurance prior to any tracking letters and pride ourselves on our “answer the phone” boutique service. 2) Our industry-best, user-friendly technologies create a tranquil lender and borrower experience. 3) We can track ANY type of insurance requirement you require, especially complex commercial loans, and customize our program to your exact specifications. That’s why many of our clients have been with us for over 40 years and why our new clients chose QuieTrack as their solution.

Lender Placed Insurance (LPI) insures specific loan collateral for the benefit of the Lender. LPI is also known as forced placed insurance, collateral protection insurance, mortgage hazard insurance, and mortgage flood insurance. It’s placement, premiums, cancellation, refunds, and coverages are evidenced by a Notice of Insurance (NOI) and governed by the Master Policy. This type of coverage is limited in its coverage and may not provide enough coverage to protect the borrower’s equity in the collateral. Furthermore, it only provides physical damage coverage (not liability) because its primary purpose is to protect the lender’s interest.

Risk mitigation lowers the severity or exposure to a risk. This may be accomplished by developing preventative and reactive strategies to lower the probability of risk or its magnitude. Specific to collateralized lending, risk mitigation focuses on the primary risk of the collateral losing all or some of its value. The perils of fire, flood, theft, explosion, and other perils constantly puts collateral at risk of losing value. Risk mitigation can also be thought of as risk control. Preventative efforts to mitigate or control risk through insurance has an expense factor. However, the cost of reacting or bearing the risk in its entirety is certain to be more costly.