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Risk Management Solutions for Your Real Estate Insurance Needs

Protecting your investments should not be a hassle. At AFR Insurance Services, we offer top-quality flood certifications, insurance tracking, evaluation tools, property inspections, real estate tax service, portfolio insurance management, and more. Stay compliant with Biggert Waters Flood Reform Act with our portfolio insurance management solutions. Our services include managing and transferring risk, providing accurate reports to lenders, obtaining proof of insurance from borrowers, and offering efficient follow-up efforts. Count on us to keep you in control of your portfolio, with lender access to all necessary data and documents. Let us handle the complexities of insurance tracking and property evaluations, so you can focus on your future satisfaction.

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Risk Management Solutions for Your Real Estate Insurance Needs

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  1. “Your Satisfaction Is Our Future” Offering the highest quality and service in:  Flood Certifications  Insurance Tracking  Insurance Products  Evaluation Tools  Property Inspections  Real Estate Tax Service

  2. Portfolio Insurance Management “Drivers” • Biggert Waters Flood Reform Act 2012 Escrow of Flood Insurance Payments Requirement - Intended Effective Date July 6, 2014 - Applies to Residential improved real estate Exempt if : 1. Less than $1B in assets and 2. Lender not required by law to escrow & did not have escrow policy in place as of 6/12/12.

  3. Portfolio Insurance Management New CFPB Servicing Requirements (Res Hazard) Escrow/Impound Loans: - CFPB prohibits Force Placed insurance when policy cancelled for non-payment. - Creates need to advance funds to pay premium (*Small Servicer Exemption: Own/Servicing < 5,000 loans) Non Escrow/Non Impound Loans: - New Force Placed Notice Requirements • New notice templates w/ req. information & font • 1st notice 45 days prior to Force Placing Ins. • 2nd notice 15 days prior and include premium amt. • Force Placed Renewals – One notice 45 days in advance

  4. AFR Insurance Tracking • What your solution should provide: • Management & Transfer of Risk - Guaranteed accuracy to ensure portfolio collateral is always insured • Keep you in control of the portfolio by acting as your back office and reporting to lender • Standard reports to lender of loans under insured • Insurance specialists follow up to obtain proof of insurance from borrower via: • 1) Borrower notices requesting proof of ins. • 2) Handling borrower and agent phone calls

  5. AFR Services What your solution should provide (cont.) • Emphasis on tracking insurance with follow-up efforts rather than hastily & unnecessarily force placing insurance • As a last resort, and only at lenders request, ability to place insurance • Lender access to all data, docs via the web • Provide escrow reporting and/or payment

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