In our 20th year of service in the residential mortgage hazard insurance industry, we are excited to have fine-tuned the on-boarding service that lends itself to what we at DIMONT call White Glove Service. With the on-boarding of six new clients within 2016, we have had the opportunity to provide a smooth transition from contract … Read moreDIMONT’s White Glove Service Reflected in On-boarding Process
DIMONT developed and launched Name That Claim as an interactive, fun, and innovative new way to test your skills on claimable damage. With this new trivia game, Name That Claim, players can determine claimable damage and estimate the corresponding recoverable damage for various types of peril. Not only is this a fun way to learn … Read moreARE YOU A HAZARD INSURANCE EXPERT? FIND OUT WITH NAME THAT CLAIM
Filing claims on defaulted loans, whether they are hazard insurance claims on policies on real estate collateral or guaranty claims with federal government agencies for loss coverage on a federally insured loan, has always been important for servicers. This is particularly true for servicers of FHA loans. There are two critical areas in which servicers … Read moreReducing Loss Severity on FHA Loans in Default
In a recent press release, we mentioned utilizing data analytics to help investor and servicer clients better measure risks and rewards of investing in loans with commercial and residential real estate properties as collateral. We are taking that process to the next level of tech-forward thinking by partnering with Relus Technologies. Working with Relus to … Read moreTHE USE OF DATA ANALYTICS HELPS INVESTOR AND SERVICER CLIENTS MEASURE RISK AND REWARD
By Tom Stover, SVP Solutions Development In a recent white paper we published, our compliance experts provided a rationale for engaging a third party vendor that specializes in insurance claims management to help servicers overcome the compliance risks our industry faces today. We covered claims for pre-foreclosure and REO property hazard insurance, flood insurance, auto … Read moreGoing Deeper: Insurance Compliance Q&A
By Tom Stover The processing of hazard insurance claims is not often the main focus of service expertise within mortgage servicers, as it is usually outsourced to specialty insurance providers. These providers are subject to state regulations, with each state free to determine hazard insurance compliance requirements as it sees fit. Because of this, processes … Read moreThree Ways Servicers Can Ensure Compliance While Filing Hazard Insurance Claims
By Aubrey Bronson As a mortgage servicer working in the world of hazard insurance claims, it can be easy to get caught up solely in the adjustment side of the process, i.e., filing claims. However, it is important to remember that maximizing claims recovery cannot occur without comprehensive claims analysis. Claims analysis consists of reviewing … Read moreWhy Hazard Insurance Claims Analysis is Vital to Your Mortgage Servicing Business
By Cheryl Johnson Mortgage servicers manage the relationship between borrower and lender or investor, including processing payments, managing escrow accounts and compliance with government regulations, accounting and reporting. Processing hazard insurance claims is not a typical core area of expertise within most servicing organizations. However, executing this area of the business accurately can result in … Read moreDo You Have the Necessary Hazards Insurance Claims Expertise for Your Mortgage Servicing Operations?