FGIB:Asset Protection for Lenders with Flexible REO Protection

Financial Guaranty Insurance Brokers (FGIB) offers competitively priced, broad form Real Estate Owned (REO) Property coverage to lenders, servicers, trustees and investors to protect property in your portfolio. This includes owned properties, foreclosed properties, and properties in the process of foreclosure.

Our strong and long-term relationships with the nation’s leading insurance providers, our knowledge of these companies and their REO products along with our independence enables us to create the right REO insurance solution to meet your specific needs. Our goal is the same as yours: To protect the interests of your portfolio, while also reducing risks and increasing efficiencies in the management of REO insurance operations.

Benefits of Working with Us

With so many policy options from which to choose, determining the right REO insurance coverage for your loan portfolio can be a complicated and challenging endeavor. There are many policy options to choose from that impact not only the cost of the policies, but also the coverage that protects you from situations that can arise over the life of a loan. FGIB can find the right fit for your portfolio. The companies with which we partner offer:

A wide variety of limits, deductibles and coverage options
Coverage written on either a stated value or total insurable value basis
REO Property Insurance offers loss settlement options on either a replacement cost or actual cash value basis, with or without co-insurance penalties
Coverage written on annual or monthly terms with various billing options
A proprietary insurance tracking system that allows for easy management of REO properties

WHAT OUR CLIENTS ARE SAYING

“Financial Guaranty Insurance Brokers have been our provider for insurance policies since the Bank’s inception. I have personally dealt with Joe Scully and Manny Kim for many years and they are excellent to work with. They are always available to assist us with any needs or concerns we may have in dealing with the insurance companies. I would definitely recommend FGIB.”

Toni Umphreyville, Chief Financial Officer

Community Valley Bank

“Words cannot express my sincere thanks to FGIB. In 2009 our bank was put into a regulatory C & D. Our Fidelity and D & O Bond was cancelled, without notice, from a company that the bank had been with for over 20 years. The cancellation shocked us, since we had an additional 17 months until the Bond’s expiration date.

It was an extremely difficult time for our bank. Fortunately, we were put in contact with FGIB. FGIB was able to find reasonable coverage for our Fidelity and D & O Bond, when no one else would. We have been a customer ever since. We appreciate FGIB’s honest, personal, and professional service.”

John G. Sorensen, Jr., President

Home Savings Bank

Providing Solutions that Align with Your Business Needs

Our vast network of contacts, through industry organizations, long-established relationships and years of service to the financial industry and beyond, enables FGIB to sort through the complexity of choices to recognize the right fit for your organization. We know your industry and understand how to secure the appropriate insurance solutions. We are licensed in the majority of states and are ready to serve you. Give us a call at 626.793.3330.