NORWELL, Mass., June 19, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Miniter Group today announced it has completed construction for the second expansion to its insurance tracking department. Construction began this spring and is the second time in just over a year that rapid growth of the department has facilitated an expansion. In 2013, Miniter tripled the size of its tracking department and now looks to double that size in these new renovations. Since the introduction of their Borrower-Centric approach in 2006, Miniter Group has grown 89% year over year for the last 5 years. Many mid size banks are moving to outsource insurance tracking due to new CFPB/RESPA regulation.
According to Jim Gilpin, EVP of Business Development at Miniter Group:
"Miniter has been refining its force-placed insurance offering since we launched our Borrower-Centric Insurance Tracking Solution in 2006. We now have over 175 lenders using our insurance tracking system. We are excited about this second expansion of our tracking department in just over a year and we are looking forward to utilizing the new facility to service our expanding customer base. "
For smaller lenders considering outsourcing their insurance tracking, the Miniter Borrower-Centric Approach to outsource insurance tracking has completely changed the traditional value proposition associated with small lender outsource insurance tracking. Our insurance tracking systems are constantly being updated to comply with the latest CFPB/RESPA, GSE, and FEMA regulations.
Miniter Group is a leading provider of collateral risk transfer solutions to the lending industry. Miniter Group provides blanket and lender placed insurance solutions to lenders in 45 states. Their in-house software development created their Borrower-Centric Insurance Tracking System in 2006. Miniter's solutions include Vendor Single Interest Insurance, Lender Placed Insurance, Collateral Protection Insurance and Mortgage Impairment Insurance.
We invite you to call Miniter Group at 1-800-MINITER or visit us on the web at http://www.miniter.com.
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Miniter Group Ryan McNulty +1 (781) 261-5535