For clients that service performing or non-performing commercial and multi-family mortgages, REO or Low Income Housing, IA can undertake a variety of tasks, including monitoring of insurance renewals, monitoring of terrorism insurance coverage, obtaining evidence of coverage and policy documentation, compliance with lender reporting requirements, update of the client’s data processing system, review of premium invoices and payment approval, and other steps required to monitor insurance protecting the asset. For monitoring, we use our Insurance Coverage and Compliance Monitoring System ("ICCAMS").
Insurance Transaction Reviews
Review of a borrower or owner insurance documentation against established lender or investor standards. A per transaction fee is charged to the client, which includes all aspects of ensuring that the borrower or owner has obtained appropriate insurance documentation.