Servicing
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
- Plus 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.
Bill Lovallo, Manager of Servicing