Financial Institution Products

Overview of Our Core Products & Services

Vendor's Single Interest (VSI) / Lender’s Single Interest (LSI)

VSI/LSI is single interest insurance to protect the lender against specific UNINSURED losses on REPOSSESSED collateral and SKIPS. It is designed to help the lender reduce their impairment.

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Standard coverages include Physical Damage (Comp & Collision), Instrument Non-Filing, Skip (Secretion), Confiscation by Public Official, and Repossessed Collateral Coverage (Lot Coverage). It can also include coverage for commercial loans and provide reimbursement coverage for Repossession Expenses, Mechanic's Lien, and Towing & Storage. Limit of Liability options are customized to the lender's portfolio, with the standard being $100,000. It extends coverage to include eligible loans in existence at the time the VSI/LSI master policy is issued. It includes Waiver of Subrogation against the borrower.

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Guaranteed Auto Protection (GAP)

GAP is a Debt Cancellation Agreement. It is not insurance. GAP is designed to eliminate or reduce the remaining unpaid loan balance, whenever an insurance settlement fails to pay off the loan due to a total loss or unrecovered theft. It is a voluntary purchase product which is very beneficial for the borrower and the lender. It is an excellent source of fee income for the lender.

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GAP PLUS Enhanced includes $1000 Replacement Benefit. The replacement vehicle must be financed with the same lender. The benefit will be paid to the lender in the form of a credit applied to the amount financed on the replacement vehicle.

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Our online GAP program features free NADA valuations on vehicles and pickups, a GAP analysis showing the dollar amount of actual GAP risk on a prospective loan, and menu selling of additional products such as Extended Warranty, CarFax, Credit Life & Disability, Deductible Reimbursement, and Total Restart/Depreciation Reimbursement. The program quotes the payment based on the products selected.

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Collateral Protection Insurance (CPI)

Collateral Protection Insurance (CPI) provides force placed physical damage coverage for eligible collateral on consumer and commercial loans. The lender and the borrower are BOTH protected up to the loan balance. The collateral does not have to be repossessed. Only your borrowers who are uninsured will pay for the coverage. The lender can also be protected from certain financial losses such as the borrower skipping with the collateral or the cost of repossession including mechanic’s lien or storage expense. We offer Standard CPI with the premium based on the loan balance or Alternative CPI with a set monthly premium for each loan regardless of balance.

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We will track the insurance on your consumer and commercial loan portfolios, provide notification to the borrowers when they become uninsured, handle all customer service with the borrowers and their agents, and issue or refund a CPI policy when necessary.

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We offer an online program for those lenders who want to track and force place the coverage themselves.

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Force Place Mortgage Hazard or Flood Insurance

We offer two options — outsource the tracking and force placing to Courtesy Insurance Agency or the lender can track and force place through a highly secure on-line program.

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We have several markets and offer broad coverage at competitive prices. Coverage extends to residential and commercial loans and lines of credit. The collateral property can be vacant or occupied and can include foreclosures & REO. We can customize our program to meet each lender's specific needs and branching structure.

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Blanket Mortgage Insurance

Blanket coverage eliminates the need to track and force place insurance. It will insure your residential and commercial real estate loan portfolios including second or third mortgages and lines of credit.

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Menu of Products

We offer many other insurance products and services beyond our core products and services of tracking and force placing insurance.