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#1897594 - 02/14/14 09:49 PM Force placed insurance on Commercial loans
WIBanker91 Offline
100 Club
Joined: Nov 2011
Posts: 185
WI
Is anyone aware of any regulations/rules/guidance on force placed insurance on Commercial properties in WI?

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#1933934 - 06/19/14 02:36 PM Re: Force placed insurance on Commercial loans WIBanker91
cwg Offline
Junior Member
Joined: Aug 2006
Posts: 48
South Central Wisconsin
The rules apply to consumer purpose loans regardless of property type. The question you need to ask yourself is how many different procedures do you want to have for the same type of task. We have the insurance through Jim Fink's company that protects in lapsed coverage so we don't have to force place. We just keep hammering at them to get insurance or we will call the loan. That usually gets their attention.

Charlie
_________________________
Regulations make more sense when you are not sober.

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