REO and Lender Placed Insurance Program
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Maitland, FL (PRWEB) August 17, 2009
REO Asset Alliance today announced that All Risks, Ltd. has joined its collaborative effort to help lenders and investors manage and maximize the value of their distressed real property assets. All Risks, Ltd. joins the initial five Alliance partners - Avalar Network, Inc., DDN Services, ECJ Asset Management, TrustTitle and TT Lender Solutions - and will offer the partnership's first insurance product.
"All Risks Ltd. shares the Alliance partners' commitment to providing lenders with a superior range of services and support," said Tim Landwehr, Senior Vice President of TrustTitle. "Their addition to the REO Asset Alliance will provide lenders and distressed property asset investors with expert property insurance options that can help them manage their REO assets in a more timely and cost-efficient manner."
All Risks, Ltd. insures commercial banks, credit unions, savings & loans, mortgage banks, and financial institutions that service and/or invest in mortgage loans. Through its membership in the REO Asset Alliance the firm will make its customizable "REO and Lender Placed Insurance Program" available to lenders and investors with REO property holdings; the program combines property and liability insurance for residential dwellings, manufactured homes, commercial property and vacant land. The program provides web-based administration, enabling policyholders to monitor their coverage amounts, run their own monthly reports, apply daily prorated premiums and delete properties when they are sold in a timely manner to help contain costs. According to Tom Elder, All Risks Ltd. Financial Institutions Underwriter, "timely distressed portfolio management can reduce a lender's insurance costs by 20% and in some cases by as much as 50%."
All Risks, Ltd. based in Hunt Valley, Maryland, is a leading independent wholesale brokerage firm offering comprehensive insurance solutions with a full service platform of brokerage, contract binding, national programs, and personal lines products. The 44 year-old firm employs more than 450 staff members in 11 offices nationwide.
To learn more about the REO Asset Alliance lenders or investors can contact Tim Landwehr at (571) 299-1117 or visit the Alliance's website at http://www.ttlendersolutions.com/REO_Asset_Alliance.html.
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