Miniter Group Enhances Escrow Services to Include Bill Payment
Norwell, MA (PRWEB) July 31, 2013 -- Miniter Group today announced an automated bill payment enhancement for escrow loans tracked using Miniter's Borrower-Centric outsource insurance tracking service. Lenders who outsource insurance tracking to Miniter Group will no longer have to perform the labor intensive process of collecting and paying insurance premiums for escrowed loans.
According to Jim Gilpin, EVP of Business Development at Miniter Group:
"Providing automated bill payment for our escrow loan portfolios now closes the loop for collection of escrow insurance invoices and the automated payment of these invoices. This process significantly reduces FTE expense from our lenders loan servicing department allowing additional time for escrow analysis."
For smaller lenders considering outsourcing their insurance tracking, Miniter's Borrower-Centric outsource insurance tracking service has completely changed the traditional value proposition associated with small lender outsource insurance tracking. Our insurance tracking systems were updated in February 2013 to comply with all of the new force-placed insurance requirements defined in Regulation X (RESPA).
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.
Jim Gilpin, Miniter Group, http://www.miniter.com, 781-982-3100, [email protected]
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