Collateral Protection/Tracking for Auto, and Hazard, ORE, and Flood
Loan Tracking Program and Insurance Placement is a state-of-the-art insurance tracking program that determines for the financial institution what the insurance status is of each and every loan in the financial institution's loan portfolio. We can track vehicles, homeowners, flood, titles, and more.
Some benefits of this program are when used in conjunction with insurance placement are:
- Eliminates physical damage loss.
- Reduces re-possession.
- Reduces clerical cost involved in insurance follow-up.
- Creates an earning asset from the interest income of the insurance premium.
- Provides an alternative to an uninsurable borrower.
- Provides automatic coverage. (Similar to error and omissions.)
- Produces elaborate management reports.
- Satisfies regulatory authority.
- Prints and mails notices to the borrowers.
- Offers a simple quick issue forced placed product without tracking.
Forced Placed Mortgage / Flood Protection
- GG has been partnered with Financial Insurance Consultants (FIC) for over 15 years to enhance our financial institutions ability to cover their hazard, ORE, and flood needs.
- FIC represents the highest rated companies to provide the best rates, and flexible coverage's.
- FIC provides a web based remitting software called FIC Protector to streamline the force placing of policies.
- This coverage can be either tracked or quick issued / force placed.