The Consumer Finance Protection Bureau has not specifically identified what its reviews require. At Synaptic Resources we understand that your insurance tracking is an extension of your loan servicing department. As such, Synaptic has taken extraordinary steps to document our business procedures and processing. By doing so we believe the CFBP will be assured that your insurance tracking partner is working with the highest degree of transparency and compliance. We follow the basic framework established by the NAIC for insurance tracking and go beyond in many areas of customer service.
Insurance tracking is a complex series of steps combined with exceptional customer service and technology that gives you an up-to-the-minute view of the status of your loan portfolio.
No matter how good a servicer's technology, customer service is what your borrowers hear and feel when they talk to a Synaptic Resources team member. The Synaptic team is made up of insurance professionals. Our team not only understands the value of exceptional customer service, they also understand insurance. We are able to counsel your borrowers through their questions about why insurance is needed and necessary requirements.
Do you know what is happening in your portfolio?