Force-Placed Auto & Mortgage Insurance: Placement, Management, Guidance

Collections Compliance Lending Operations Sales & Specials

On-Demand Webinar:

StreamedAug 9, 2023Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

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Are you conversant in force-placed insurance? Do you know that it can be used for auto loans as well as mortgages?

Since it’s a key way to protect collateral, it’s important to know the regulations, process, and timing requirements. Join us to get expert, legal insight.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Understand the laws and regulations regarding force-placed insurance for mortgage and motor vehicle loans
Explain the various types of notices and timing requirements
Distinguish what is legally required and what is not permitted
Determine when force-placed insurance must be canceled and premiums refunded to the borrower
Comprehend the restrictions on receiving fees and other benefits from insurance companies

WEBINAR DETAILS

Your financial institution’s ability to force place insurance is an important way to protect its collateral on a loan. There are special rules that must be followed before your institution has the legal right to force place insurance and seek reimbursement from the borrower. Force-placed insurance is highly scrutinized by regulators, so it is imperative that your institution handles it correctly. This webinar will focus on consumer mortgages and motor vehicle loans. It will not cover flood insurance.

WHO SHOULD ATTEND?

This informative session is designed for loan officers, loan operations personnel, insurance personnel, compliance staff, managers, auditors, and anyone else involved with force-placed insurance.

TAKE-AWAY TOOLKIT

Model forms for force-placed insurance notices
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.