Webinar: Force-Placed Auto & Mortgage Insurance: Placement, Management, Guidance
August 9, 2023 3:00 pm - 4:30 pm
Are you conversant in force-placed insurance? Do you know that it can be used for auto loans as well as mortgages?
Since it’s a key way to protect collateral, it’s important to know the regulations, process, and timing requirements. Join us to get expert, legal insight.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the laws and regulations regarding force-placed insurance for mortgage and motor vehicle loans
- Explain the various types of notices and timing requirements
- Distinguish what is legally required and what is not permitted
- Determine when force-placed insurance must be canceled and premiums refunded to the borrower
- Comprehend the restrictions on receiving fees and other benefits from insurance companies
WEBINAR DETAILS
Your financial institution’s ability to force place insurance is an important way to protect its collateral on a loan. There are special rules that must be followed before your institution has the legal right to force place insurance and seek reimbursement from the borrower. Force-placed insurance is highly scrutinized by regulators, so it is imperative that your institution handles it correctly. This webinar will focus on consumer mortgages and motor vehicle loans. It will not cover flood insurance.
WHO SHOULD ATTEND?
This informative session is designed for loan officers, loan operations personnel, insurance personnel, compliance staff, managers, auditors, and anyone else involved with force-placed insurance.
TAKE-AWAY TOOLKIT
- Model forms for force-placed insurance notices
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Presenter: Elizabeth Fast, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.