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Loan Protector Insurance Services, which offers Internet-enabled solutions for tracking and force placing all types of insurance for residential and commercial loan servicers, has upgraded two of its products, EasyTrackSM and INS for Web.
Clients using the EasyTrackSM insurance tracking program will see a "next generation" bill processing solution, created with the input of current clients and industry experts. Users of another Loan Protector program, INS for Web, will also see enhancements.
Loan Protector's "Premium Escrow Service" enhancements to EasyTrack will make it possible for Loan Protector to preprocess insurance bills, weeding out the bills that clients should not pay and presenting them with the ones they should pay. Typical reasons for nonpayment include double billing, bills sent for terminated loans and bills that borrowers are supposed to pay themselves.
"Every bill that we input will be run against a set of business rules," said Loan Protector president Ron Wiser. "If the bill passes the business rules, we will send it to the client for payment. This preprocessing makes for less work on the part of the lender, which reduces costs."
Another benefit is reduced risk, because Loan Protector ...
Source: HighBeam Research, Loan Protector Upgrades Service.