More Than Three Decades of Lender Expertise
AFR is first and foremost an insurance tracking administrator. Our programs are designed to reduce the need for lender-placed insurance. However, if a lender determines that lender-placing insurance is necessary, AFR will find the best solution and keep you in compliance.
Our insurance risk management solutions can be customized to meet any lender’s specific portfolio needs with a full range of options that will provide you and your borrowers with the best service possible. Whether you need to lender place a few policies or many, you will benefit from AFR’s competitive rates.
Benefits of AFR’s Lender-Placed Insurance Program
AFR’s Lender-Placed Insurance Program provides mortgage lenders and servicers with a reliable solution to secure coverage for all risks (Hazard, Flood, and Wind) when collateral becomes uninsured.
- AFR's Lender-Placed Program is seamless with AFR's eliteTrac software
- Competitive rates for portfolios of any size
- Protection for a wide range of collateral types, including:
- Residential and Commercial Real Estate
- Real Estate Owned (with Liability Coverage Included)
- Mobile Homes
- Contents Coverage
- Condominium Unit Owners Coverage
- Vehicles
- Equipment
Click on the corresponding grid below to see more about each program.
AFR’s lender-placed policies are written through one of the world’s largest A rated carriers, Lloyds of London. Adding our Automatic Coverage Endorsement will cover unintended coverage gaps in your portfolio.
Benefit from exclusive use of eliteTrac, AFR’s proprietary insurance tracking system.
Leverage industry-leading compliance expertise.
Lender-Placed Hazard Insurance
AFR’s Lender-Placed Hazard coverage protects property from multiple causes of loss beyond just fire damage. Lender-placed insurance is a stopgap measure to make sure your interests stay protected in case your borrower's policy cancels, lapses or expires.
Your choice of a lender-placed insurance program is critical. You need a program that helps you cover exposures quickly and easily, one loan at a time. You want a financially strong insurer and a trusted program administrator that can offer coverage up to $5,000,000 (or higher with additional underwriting) based on your portfolio needs.
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Lender-Placed Wind Insurance
AFR’s Lender-Placed Wind Insurance Program enables mortgage lenders and servicers to secure stand-alone wind coverage when a borrower’s hazard or homeowners policy excludes wind as a covered peril, and the borrower has not responded to prior notices that wind coverage is required.
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Lender-Placed Auto Insurance (Collateral Protection Insurance)
AFR’s Lender-Placed Collateral Protection Insurance (CPI) program helps safeguard your loan collateral by providing insurance coverage when borrowers are unable to obtain or maintain their own. Whether a policy has been canceled, lapsed, or expired, our program ensures protection against uninsured losses.
AFR’s CPI program also delivers comprehensive administrative and support services, including:
- Complete insurance data capture and management
- Automated borrower notifications
- Exposure reporting and coverage placement
- Inbound and outbound borrower communication
- Inception-to-date tracking and service
The program is designed to help you achieve two key goals: encouraging borrowers to maintain their own insurance and minimizing the number of lender-placed policies required.
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Lender-Placed Flood Insurance
AFR’s Lender-Placed Flood Insurance Program offers mortgage lenders and servicers a solution to obtain flood coverage for properties in their loan portfolio located in federally designated Special Flood Hazard Areas (SFHAs). This coverage is used when borrowers have failed to maintain required flood insurance and have not responded to prior notices.
CONTACT USBlanket Policy
When a Blanket policy is needed, AFR comes through with "A" rated protection for Hazard and Wind for a wide range of collateral types, including:
- SF 1-4 Dwellings, condos, mobile homes and commercial properties
- 1st or 2nd mortgages, and HELOCs
REO Insurance
AFR’s REO Insurance Program provides property and liability protection for real estate and contents acquired through loan default. The program offers flexible options allowing you to choose the coverages, limits, and deductibles that meet your needs. Monthly premium billing is available.
Automatic Coverage Endorsement
This optional endorsement protects the lender from losses due to uninsured or under insured loan collateral. This coverage is available for lenders who are using AFR’s tracking and lender placed program. Simply put, if you track and lender place with AFR, your collateral is always protected from uninsured losses.