Van Wagenen Financial Services, specializing in collateral protection, has introduced new commercial real estate insurance tracking software that it claims reduces the amount of time and resources needed to manage risk on commercial property mortgage portfolios.
The company says the Web-based solution efficiently handles insurance documentation for multiple buildings, business assets, UCCs and other forms of collateral on a single loan. What's more the software offers reporting capabilities that make it simpler for lenders to monitor for various inadequacies.
‘Commercial lending is a key growth area for many of our existing and prospective clients,’ says Ron Paulin, van Wagenen vice president of sales, financial institutions. ‘Bringing this level of risk management capability to the table opens up substantial opportunity for them to expand or begin new programs with the resources they already have.’
In February, Minneapolis-based van Wagenen announced that it had teamed up with Houston-based Shaw Systems Associates Inc. to bring integrated convenience to servicing system software and insurance products.