PROTECTION, CONVENIENCE AND RELIABILITY FOR LENDER-OWNED PROPERTY
Our REO Solutions
Real-estate-owned assets are, by definition, a drain on a lending institutions financial assets and capital. Most REO properties area
acquired after foreclosure. Many are in a state of disrepair and damage. The last thing the lender wants is additional damage or
loss in the value of the property because collateral insurance lapsed. Our REO solutions help to keep bad situation from getting
worse. We've made it simple for you to access our REO program in a way that you can tailor it to your needs. Just give us a call
and we can put you in touch with one of our REO specialists. We cover both commercial and residential property with your
choice of coverage including all-risk, replacement cost, wind, and flood. Coverage is flexible and, once approved, can be
immediate. Your REO portfolio becomes part of the SSPI Connect and you have access to Track CollateralTM the user-friendly
SSPI web application system.
Convenience & Reliability
Our program is easy to access and cost-effective. You can report properties for coverage at any time. Premium payments are monthly.
That saves you dollars because you only pay for the months that you need coverage. All our carriers are rated "A" by A.M. Best. Our
systems are "state-of-the-art" – we're the industry's tracking technology leader.
• Eligible Property: residential and commercial property including mobile homes and manufactured housing. We also offer
commercial property owners the option of business content coverage.
• All-Risk: Coverage limits are available for up to $5,000,000 per location
• Our replacement cost option, with certain exceptions, generally offers no depreciation adjustments.
• Wind coverage is available even in coastal areas and for named storms.
• Three Flood Options:
o $25,000 per property with a $2,000,000 annual aggregate
o $250,000 per residential and $500,000 per commercial property
o $1,000,000 per property location
• Deductibles – We have options from $250 up to $100,000 with special wind deductibles.
• Earthquake coverage is available in all states except Alaska and California. You can consult with us for options there.
• General Liability – We offer limits up to $1,000,000 each occurrence with a $2,000,000 aggregate.
• Independent Contractor Liability – We offer limits of $50,000 and $100,000.
• All our carriers are rate "A" by A.M. Best. Coverage is also available from Lloyd's of London
• Experience, professional claims handling provides speedy response and resolution.
• Access to our web and insurance technology tracking systems.
In today's rigorous regulatory environment, financial institutions insist that key suppliers have the required safeguards and internal
controls that insure the highest compliance with required accounting and operational standards. Not all suppliers can document
compliance, but SSPI meets the highest industry standards. We are a SAS 70 Type II Compliant company. We can provide you with
our service audit and answer any questions about our safeguards and our compliance systems.