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.

What Synaptic Resources 

Does For You

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.


  • Loan data from the lender's portfolio is loaded to our tracking system
  • Borrower notifications are customized for your portfolio
  • Electronic Data Interface (EDI) connections are set up to gather insurance notifications related to the lender's borrowers
  • Insurance mail is re-routed to the Synaptic insurance center
  • Toll-free telephone lines are established for your borrowers
  • Website, fax and Internet connects are made available to your borrowers
  • Reports and management tools are put into place for lender use
  • FTP access is established with the lender to ensure secure data transmission

Compliance

CFPB


Customer Service

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.

Insurance Tracking

Do you know what is happening in your portfolio?