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    Lenders: keep borrower certificates current

    4 min read

    Insurance lapses on financed property are found late, usually after a loss. Recurring requests and verification move that discovery earlier.

    1. 1

      Add your borrower contacts

      Record who supplies certificates for each property and loan.

    2. 2

      Set up recurring requests

      Schedule requests so certificates are re-collected before each expiration instead of on demand.

    3. 3

      Verify against loan requirements

      Certificates are checked for required coverage types, loss payee and mortgagee wording, and adequate limits against the loan amount.

    4. 4

      Export the audit trail

      Produce a compliance export showing who is current, who lapsed, and when each certificate was received.