National General Lender Services adapts to a changing marketplace
Offers compliant lender placed insurance solutions
National General Lender Services was officially launched in October 2015 with National General Holdings Corp.’s acquisition of the lender-placed insurance business and operations (including the systems and platforms) comprised of the combined QBE FIRST and Balboa organizations from QBE. The industry leaders and team joined National General and will continue to operate the business. National General Lender Services is currently the second-largest provider of lender-placed insurance to the mortgage industry.
National General Lender Services serves mortgage loan servicers and financial institutions of all sizes across the United States and Canada. It offers a full range of residential and commercial mortgage LPI solutions, including hazard and flood insurance, insurance tracking and risk management services.
But it also offers services that go beyond the basics, including compliance guidance aided by tools such as the ComplianceTrack system, which identifies compliance-related risks, and through continuous customer engagement on compliance-related issues. The company also improves the customer experience through its Certified Call Centers of Excellence, a certification it has achieved for an industry-leading nine years in a row.
“Our insurance products and services are fundamental to the lending industry to ensure the real estate securing the portfolio is insured against physical loss,” said President Art Castner. “We have a wide range of capabilities ranging from ‘just insurance’ to comprehensive insurance tracking solutions, which automatically comply with the regulations governing a business.”
The company continues to adapt its business to changing regulations, but also to an evolving marketplace.
“We believe the CFPB’s focus on third-party service providers is a positive development that nationally standardizes the service and products within the financial services industry,” Castner said. “To meet the regulatory challenges, we are fully engaged with every state and federal regulatory stakeholder who governs us as an insurance provider, but also as a third-party servicer.”
When it comes to technology, National General Lender Services is reinvesting in its own proprietary technology and thinking well into the future.
“We view technology as a way to make digital applications and ‘self-serve’ deliverables faster and more useful — all while creating transparency for our clients and maintaining stringent controls to secure their information,” Castner said.
National General made a significant investment in acquiring its lender services business, team and platform, and expects that, combined with its “will do” attitude, the business will continue to grow.
“National General Lender Services is uniquely suited to provide the best tailored, compliant insurance solutions to the industry, as we have the people, the systems, and the balance sheet to make it happen,” Castner said.
ART CASTNER, President
Art Castner became president of National General Lender Services in October 2015. Castner sets strategy for the organization and leads the effort to reinvigorate its offerings to the industry. He joined the organization in 2004, leading operations and operational strategy for the Lender Services division. Prior to joining National General, Castner was a vice president with Ocwen Financial for almost 12 years and also worked for Smith, Schoder Rouse & Bouck.
Thomas McCarthy, SVP, Sales
Thomas McCarthy is responsible for directing his sales and marketing teams to achieve organizational growth and drive increased profitability of the lender-placed insurance solutions and collateral protection insurance businesses. Before joining National General in October 2015, McCarthy held senior-level roles at Altisource, Rochdale Capital, The Carlton Group and Ocwen Financial.
Richard Pedack, Chief Market Strategy Officer
Richard Pedack is the chief market strategy officer for National General Lender Services and president of Seattle Specialty Insurance Service Inc. This dual role covers responsibilities including insurance brokerage, broker relationships and oversight of mid-market products and services. Prior to forming Seattle Specialty in 1992, Pedack developed the lender-based insurance programs for Minnehoma Insurance Co.
Scot Deagan, VP, Account Management
Scot Deagan leads the Executive Relationship Management Team, utilizing a holistic approach to strategic relationship management and communication. Deagan has been with National General Lender Services for more than 16 years and has more than 30 years of property and casualty industry experience. Prior to that, he held management positions with Kemper National Insurance and Chubb Group of Insurance Companies.