Loan Protector Touts Upgrade to Insurance Tracking Platform
Loan Protector Insurance Services, a provider of customizable lender-placed insurance programs for lenders and mortgage servicers, said Wednesday that it had implemented numerous upgrades to its EasyTrack insurance tracking platform. Key upgrades included a new database platform that the company says has dramatically increased processing speed and improved performance for clients using the software platform. Used in an outsourced environment, Loan Protector says that EasyTrack helps loan servicers manage insurance, escrow and verification processes in a secure, online environment, which significantly reduces processing time. EasyTrack collects the latest insurance information on loans in portfolios, provides detailed information on non-compliant borrowers and is able to place insurance, if necessary, to help lenders protect their collateral. LP said other enhancements to EasyTrack have increased the reporting features offered by the software. The reports, which are primarily used to manage the premium payment process and resolve exceptions, are now easier to use and offer faster access to all data available on a policy. â€œWith the ever-changing mortgage climate, lenders are paying more attention to their portfolios, and doing whatever they can to protect their investments by verifying that the borrower maintains insurance on the collateral,â€? said Ron Wiser, president of Loan Protector. â€œOutsourcing has become a viable alternative for lenders who want to focus more on other important business activities instead of tracking insurance. Loan Protector offers a turnkey insurance tracking service devoted exclusively to the mortgage industry.â€? Wiser said the company will release five additional updates to its EasyTrack platform during the remainder of 2007. For additional information, visit http://www.loanprotector.com.