Lender Placed Insurance

AFR's lender placed program is customized to fit your portfolio, no matter how big or small, with a full range of options that will provide you and your borrowers with the best service possible.  Whether you need to lender place a few policies or many, you will benefit from AFR’s competitive rates.

Benefits of AFR's Lender Placed Program

EliteTrac - AFR's proprietary Insurance Tracking System for LP policies

Option for AFR to send customized notices

AFR’s compliance expertise

Competitive rates no matter how big or small

Access to the NFIP’s MPPP or private LP markets

 

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Lender-Placed Hazard Insurance

Provides mortgage lenders and servicers a facility through which hazard insurance can be purchased. The Lender-Placed Hazard Program effectively insures almost any type of collateral that becomes uninsured with coverage options, such as: All-Risk Property Damage for residential and commercial dwellings, Real Estate Owned, Mobile Home, Optional Contents, Optional Liability, Condominium Unit Owners, Blanket Second Mortgage, Blanket First Mortgage, Mortgage Impairment E & O.

Lender-Placed Flood Insurance

Provides mortgage lenders and servicers a facility through which flood insurance can be purchased for properties in its loan portfolio that are situated in federally-designated Special Flood Hazard Areas where borrowers do not have flood insurance and have not responded to previous notices that flood coverage is required.

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Lender-Placed Wind Insurance

Provides mortgage lenders and servicers a facility through which stand-alone wind coverage can be purchased if the borrower's hazard or homeowner policies exclude the peril of wind and the borrowers have not responded to previous notices that wind coverage is required.

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Lender-Placed Auto Insurance

AFR’s Lender-Placed Collateral Protection Insurance (CPI) program protects your interests by helping your borrowers protect theirs.  It protects the loan collateral by providing coverage for your borrowers who find it difficult to obtain insurance protection. For borrowers whose coverage canceled, lapsed or expired for various reasons, the program ensures protection against an uninsured loss. 

Our Lender-Placed CPI program provides a full range of administrative and support services that include inception-to-date insurance data capture and management, borrower notifications, exposure reporting, coverage placement, inbound/outbound calling and more. The program enables you to achieve the dual objectives of maximizing the number of borrowers purchasing their own insurance coverage and limiting the number of CPI (lender placed) policies placed.

REO Insurance

Provides property and liability protection for real estate and contents that become owned by the client due to loan default.  Our program allows you to select the coverages, limits, and deductibles you want. Monthly premium available.

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Automatic Coverage Endorsement

This optional endorsement protects the lender from losses due to uninsured or under insured loan collateral.  This coverage is available for lenders who are using AFR’s tracking and lender placed program.  Simply put, if you track and lender place with AFR, your collateral is always protected from uninsured losses.

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