Track in House, Outsourced Tracking, or Blanket Coverage? Which is better?
While most lenders want to focus on lending, not insurance, those who service loans have a necessary but annoying issue to deal with. The insurance on the collateral you hold for security on the loan, along with the paper and correspondence that goes along with it, creates a lot of work and decisions. With so many vendors claiming to have the ultimate solution for you (and they claim that their other solutions, which may be less profitable for them, aren’t the answer for you), how do you decide what solution is best for your institution? There are positives and negatives to each solution that have to be evaluated properly to make the right decision.
