Loan Origination

Credit Life and Disability Monthly Outstanding Balance (MOB) Payment Protection for revolving lines of credit such as Home Equity Lines of Credit (HELOC’s)

An alternative to Credit Protection is debt cancellation. It is a product that financial institutions can tailor to fit the needs of the borrower. Debt cancellation is not an insurance product, but a modification to the loan agreement by the lender. The lender may allow cancellation of the loan terms in the event the borrower has certain events occur. These events could include death, accidental death, disability, accidental disability, involuntary unemployment, unpaid family leave along with other unexpected events. Debt cancellation is normally found on all forms of consumer loans which include open-end and closed-end loans.

LIS Group will provide an analysis followed by offering options for a solution that may best fit your financial institution.

Mortgage Life will pay off or reduce the loan balance in the event of the covered borrower’s death. Single and Joint coverage is available with non-tobacco and tobacco rates. Billing is direct with your borrower by utilizing an ACH method. Therefore, all originated loans can be protected even if the loan servicing is not held directly by the originating financial institution.

Mortgage Disability will pay the scheduled loan payment or a portion of it to the policy maximum if the borrower has become totally disabled due to a covered accident or illness. Single and Joint coverage is a available. Billing is direct with your borrower by utilizing an ACH method.

Credit Life and Disability (CEMOB) was designed for real-estate secured (HOPEA) loans. This product may also be used for any installment loans.

Protect your borrowers and the your financial institution with Level Term Life Insurance on SBA loans, Commercial, Residential , Agriculture loans and large lines of credit. We can provide Key Man Life Insurance as well. There are two easy selling processes via the administrator’s website. You can sell the life insurance, receive a quote through the website or provide us limited information and we will sell the life insurance for you. In both cases, we can provide your financial institution a collateral assignment. Better yet, gain non-interest income with both situations and be more than a loan officer, be a financial partner as well.

GAP coverage protects the borrower’s against the financial GAP in the event the collateral is damaged beyond total repair or stolen and never recovered. GAP coverage will pay the deficiency balance between the actual cash value of your collateral and the payoff amount of your loan.