WNC Announces Insurance Product For REOs

surance Services Inc. has made its REOSelect insurance product available to lenders and servicers, enabling them to choose the specific coverages they need and the amount of insurance and deductible they prefer for bank-owned properties. Lenders and servicers can also add flood, earthquake, business contents and liability protection based on the requirements of their portfolios, WNC says. All types of residential and commercial properties located in all 50 states and the District of Columbia are eligible for coverage through REOSelect. A lender receives one master policy and a reporting form to list and submit REO property locations for coverage. As a monthly pay program, REOSelect provides insurance only when a lender reports a property for coverage. Unless a property is reported, there is no cost incurred, WNC adds. SOURCE: WNC Insurance S

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