Automated Hazard and Flood Insurance Tracking for Real Estate Loans
SUI’s insurance tracking and management system, InsuraTrac, has been specifically designed to provide sophistication and flexibility to help lenders accomplish their goals and objectives. We have worked with hundreds of community banks, credit unions, and diverse lending institutions nationally to deliver an easy-to-use insurance tracking platform and competitive coverage solutions for seamless protection of your residential and/or commercial property portfolio.
Our experienced employees leverage technological and operational expertise to ensure lender objectives are met. These objectives may include accurate and timely updating of borrower’s insurance status, reducing operating expenses, identifying and reducing uninsured loans, reducing foreclosures and REO losses, optimizing borrower acceptance and minimizing false placements.
- Insurance tracking
- Insurance tracking and borrower notification
- Insurance tracking and lender placed coverage through SUI’s Collateral Program
- Competitive pricing for all products, services, and customizable features
- Knowledgeable and courteous call center agents available 8:30 am to 6:00 pm EST, Mon-Fri
- Toll Free Fax lines for agents and customers available 24 hours a day
- Email addresses included on all letters to facilitate receipt/confirmation of coverage
- CFPB compliant notification cycles to maximize the effectiveness of the notification and minimize false notifications
- Online, real-time access to all borrower’s tracking and insurance information via SUI website interface using SSL
- All historical information is maintained and available through the website interface
- Web-based availability to view scanned images of paper insurance documents received from borrowers
- Paperless Electronic Data Interchange partnership interfaces with most major and several smaller personal lines underwriters to reduce your mail handling volume
- Document management services and secure on-site document shredding
- Secure FTP servers available to transfer information between you and SUI
Mortgage Hazard Details:
- Immediate binding authority up to $1,000,000 for Hazard coverage
- Dual and single interest coverage without coinsurance requirements
- Annual premium billing and pro-rata refunds
Flood Coverage Details:
- Coverage for residential and commercial properties
- Immediate binding authority of $250,000 on residential properties
and $500,000 on commercial properties - Easily administered monthly billing
How can we help you?
Reach out to discover the possibilities for your business.
