Protequity Loan Default Protection
Unitas Financial Services is proud to introduce the next generation of equity lending default protection. Protequity is designed to complement your current lending platform by extending your reach to capture additional creditworthy clientele. Protequity will allow you to significantly increase loan production in traditional equity-based lending programs.
Protequity allows the lender to leverage its own lending expertise with that of an A.M. Best Excellent Rated insurance carrier. Protequity is intended to mitigate the effects of borrower default, improving the performance metrics of a lender’s home equity portfolio. With the support of Protequity, lending programs can be customized to reach 100% LTV thresholds.
A delinquency of 90 days triggers the claim process, no foreclosure required. In the event of a claim, Protequity pays the entire outstanding loan balance, up to a maximum limit of $250,000 per loan, to the financial institution. Claim payments are delivered approximately 30 days after a completed claim submission. *
Protequity can be leveraged to increase production on the following loan types:
- Fixed Home Equity
- Home Equity Lines of Credit
- Second Money Purchase Loans
- Secured and Unsecured Home Improvement Loans
Let the Protequity team work with your team to establish an affordable premium rate and program guidelines.
Benefits of the Protequity Loan Default Program:
- Market reach is expanded to capture additional creditworthy clientele.
- The program is underwritten by a national insurance company with an A.M. Best Excellent Rating.
- Program flexibility to include secured and unsecured Home Improvement loans.
- Foreclosure is not required to trigger the claim process.
- A simple premium pricing strategy is customized for each lender.
- A comprehensive program management reporting package is provided.
- Program utilizes Moody’s marketplace analytics for customized pricing.
Protect your lender’s home equity portfolio against borrower default for any reason (bankruptcy, divorce, job loss, death, etc.) with our mortgage loan default program. With this program, lenders are able to safely broaden their loan to value threshold, satisfy more borrowers, and significantly grow their bottom line. In the event of default, the lender is able to file a claim, avoiding the foreclosure process, while also having the ability to report zero losses on their balance sheet.