Norwell, MA (PRWEB) May 23, 2013
Miniter Group today announces that it has achieved 1000% growth in its insurance tracking department over the last 12 months as banks and credit unions continue to adopt their Borrower-Centric Insurance Tracking Solution. Miniter Group first introduced Borrower-Centric Insurance Tracking in 2006 as a new methodology for insurance tracking. Small to mid size lenders have embraced this new methodology in light of the regulatory changes initiated by the Dodd-Frank Act in 2010.
According to Michelle Austin, Miniter Group's SVP of Lender Services:
"We believe our Borrower-Centric methodology aligns perfectly with Dodd-Frank compliance requirements. This combination is why we reached this milestone and will continue to gain market share. We have built our systems to support this rapid growth and wait for the completion of our new insurance tracking facilities next month that will provide support for continued growth in the future."
The Borrower-Centric methodology puts the borrower's needs first, which assists the borrower in reinstating their collateral insurance prior to the expiration of their policy. The lender also benefits as the Borrower-Centric methodology reduces customer complaints while transferring all collateral risk from the portfolio.
Miniter Group is a leading provider of collateral risk transfer solutions to the lending industry. Miniter Group provides blanket and lender placed insurance solutions to over 550 lenders in 45 states. Their in-house software development created their Borrower-Centric Insurance Tracking System in 2006. Miniter’s solutions include Vendor Single Interest Insurance, Lender Placed Insurance, Collateral Protection Insurance and Mortgage Impairment Insurance.
We invite you to call us at 1-800-MINITER or visit us on the web at http://www.miniter.com.