What is Property Search Loss Protect Insurance and Who Does it Help?
You may remember we launched a new product back in January called “Property Search Loss Protect”. This product offers additional coverage to protect against a loss resulting in a title search error. While ProTitleUSA takes pride in its outstanding quality and data checks, errors can happen, sometimes beyond anyone’s control. Loss Protect is a great tool to minimize any potential damages. Here’s how it can help some of our most popular clients.
For HELOC and 2nd Lien Lenders, Loss Protect provides an insurance equivalent product recognized by the industry that can be bundled with an Alternative Valuation Model (AVM) to originate the loan in less than four days.
For 1st and 2nd Lien Note Buyers, Loss Protect provides coverage that would relate to the purchase of a 1st or 2nd position lien. Enjoy flexible customization by selecting your desired duration of coverage and any loss amount up to $750,000.
For Foreclosure Attorneys, Loss Protect can be utilized to pay for refiling a foreclosure case due to search inaccuracies with a flexible setting of the loss limit. Additionally, if the loss is related to post foreclosure title insurance issues, Loss Protect would cover those errors.ProTitleUSA
is offering free Loss Protect coverage for new clients who meet volume commitment! For additional information, please reach out to Suzanne Rotondo, Director of Compliance, at email@example.com
and read more from our prior blog post here