Pub. 17 2020 Issue 2

Issue 2 • 2020 11 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S Mortgages can cover all real estate in a portfolio and can be separated by portfolio. For example, you can buy protection on commercial real estate, or only on your first mortgages. While the term “blanket” sounds like a one-size-fits-all plan, Golden Eagle works with lenders to customize it to their exact needs, wants, and goals. Force-Placed Hazard, Flood & REO For some lenders, force-placing hazard and flood protection is a desire or even a requirement. During any consultation, Golden Eagle will seek to identify if this strategy is a better fit than Blanket coverage. Our force-placed hazard/flood provides all-risk protection for tracking insurance for hazard and/or flood when a borrower lacks adequate insurance on a mortgaged property. REO coverage provides liability coverage on properties owned by financial institutions. What makes our force-placed policies advantageous is an array of included and unique coverages that provide extra peace of mind to the lender. These include Blanket 90 protection, which provides Blanket coverage for 90 days from the date of a cancellation or expiration on an existing policy. Blanket 90 helps elimi- nate negative interactions with borrowers as most renewals or reinstatements will be received within the 60-day window before notification is required. Force-placed policies also can include an optional Automatic Coverage Endorsement that will protect from loss due to error or omission. For lenders that desire force-placed coverage, the ability to tailor it in this manner is a huge advantage. Mortgage Impairment Some community lenders require mortgage impairment protection. This enhances a mortgage holder’s errors and omissions policy by providing the broadest coverage available as a separate policy. The supplemental coverage is designed to cover losses not typically covered by basic mortgage holder E&O policies. We will work with you to tailor a mortgage im- pairment policy to your specific needs. AllenMoss, VP, Regional Business Development Allen joined Golden Eagle Insurance in October 2019 as a VP of Regional Business Development. He will primarily be consulting with lenders in Texas, New Mexico, Arizona, Oklahoma and Arkansas. Allen is a graduate of the United States Military Academy at West Point with a major in Mathematics. After grad- uating fromWest Point, Allen spent time at Schofield Barracks, Hawaii, as an infantry officer. Following that assignment, Allen was selected to join the 75th Ranger Regiment at Fort Benning, Georgia, where he served as the Reconnaissance Company Operations Officer. Allen currently resides in Hilliard, Ohio, and enjoys traveling, the outdoors, sports and reading. Allen.Moss@goldeneagle-insurance.com , 1-800-461-9224 Ext. 1023 New Vista Solutions Golden Eagle is proud to partner with New Vista Solutions (NVS). New Vista has been a leading provider of mortgage settlement services since 2007. NVS provides a full suite of solutions for mortgage originators, including appraisals, alter- native valuation products (AVPs), credit reports, flood certi- fications, alternative title products, and income and employ- ment verification. All these services are accessed through one user-friendly online portal. By simplifying and streamlining the origination process, Financial Institutions reduce the time to close a loan and ultimately realize greater profits. Beyond the solutions listed above, Golden Eagle can help community lenders with outsourced insurance tracking, equity default protection, flood determination certificates and much more. Our wide array of mortgage portfolio solutions is a definite advantage, but what we truly take pride in is our commitment to work hand in hand with lenders to help them improve their business. For over 25 years, our consultative approach and commitment to partnership have been at the forefront of what we do. We are a community-minded compa- ny, just like you, and we let those principles drive us every day. If you think we may be able to help your institution, please call us to set up a free consultation. n For some lenders, force-placing hazard and flood protection is a desire or even a requirement. During any consultation, Golden Eagle will seek to identify if this strategy is a better fit than Blanket coverage. Our force- placed hazard/flood provides all-risk protection for tracking insurance for hazard and/or flood when a borrower lacks adequate insurance on a mortgaged property. REO coverage provides liability coverage on properties owned by financial institutions. What makes our force-placed policies advantageous is an array of included and unique coverages that provide extra peace of mind to the lender.