Lender Risk Management Services

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Lender Risk Management Services

ICA understands the financial risks that face lenders of all sizes and in different lending environments. To alleviate the headache that comes from inefficiencies, required due diligence, deficiencies in coverage and communication, ICA’s specialized lender risk management service is the remedy.

ICA tracks the “progress” of our Client’s loans from each loan’s execution and will add new loans, as requested and supplied by ICA’s Client. Documenting the loans on a spreadsheet, ICA will run a list based on the information provided by the lender at the beginning of every month and communicate to the lender’s assigned individual about any problem areas; ICA will update that individual about expiring loans or other risk management issues that are relevant.

For more information about this service, fill out our contact form .

See Below for How It Works:

Review the loan agreement for insurance requirements set forth by lender.

Review borrower’s insurance information, as follows, to make sure that same meets or exceeds the lender’s requirements as set forth in the relevant loan agreement.

    1. Acord 28 (Evidence of Property)
    2. Acord 25 (Certificate of Liability)
    3. Property, liability, umbrella, workers’ compensation and any other required insurance policies, when provided by client
    4. Carrier ratings
    5. Flood determination and, if required, flood declaration page or evidence of coverage
    6. Property appraisal or replacement cost estimator, when submitted by client
    7. Zoning report for conforming status, when submitted by client
    8. Phase 1, when submitted by client
    9. Premium payment verification
    10. PML Reports

Based on the review as outlined above, ICA prepares approval package for Client inclusive of all necessary documentation, such as:

  1. Excel spreadsheet containing the areas of insurance compliance, non-compliance, expiry, notes and comments
  2. Due diligence letter documenting deal name, loan number, property address, information reviewed, name of reviewer and date on which review was completed
  3. Final ACORD 28 and 25, premium recap, invoice or payment verification and formal waivers

For Freddie Mac loans, upload to ICT

Review proposed loan agreement and suggest modifications to insurance and indemnification sections as well as any other relevant agreements such as senior loan agreements, construction contracts, leases, ground leases, etc. and provide analysis on the insurance and indemnification sections.

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