Collateral Protection
Since financial institutions started making loans, risks have been associated with uninsured collateral. If a borrower damages the collateral or has the collateral stolen or destroyed, will the borrower continue making loan payments? Or, will the borrower stop making payments, create a collection problem, and ultimately cause a charge off?
The solution is a properly designed and serviced Collateral Protection Insurance program – one that protects both lending institutions and their borrowers.
ESA has provided Creditor Placed Insurance services since they became available in the late 1970s. As the programs have evolved, ESA’s capabilities have grown to support a robust suite of Creditor Placed Insurance offerings. We manage programs for lenders large and small, urban and rural, and representing a diverse pool of borrowers.
Our deep experience allows us to tailor a program to fit the unique needs of your institution. Ask about our range of offerings:- Creditor Placed Collateral Insurance (CPI)
- Creditor Placed Mortgage Hazard, Flood, Wind, and Earthquake Insurance
- Collateral, Mortgage, Flood, Wind, and Earthquake Tracking
- Blanket VSI and Mortgage Coverage
The success of any Creditor Placed Insurance program depends upon the sophistication of the tracking system. Evans, Simpson and Associates designed and built the LoanGuard system to serve the specific needs of its customers. LoanGuard is a fully automated, technologically advanced, Web-based tracking system that relieves a lending institution of the tedious duties involved in monitoring collateral insurance. Customizability, leading-edge capabilities, and time-saving efficiencies distinguish LoanGuard from other systems.
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For information about our Collateral Protection program, contact us at 800-676-1609 or info@evans-simpson.com.
