Case Studies: Meeting Ginnie Mae Requirements... At The Last Minute
- ResMac, Inc

 

We needed E&O Insurance and Fidelity Bond policies that would be in compliance with our Fannie Mae and Ginnie Mae filings. In the case of Ginnie Mae, this was a sudden last minute need with which we urgently had to comply. Even more, the standards for these agencies are fairly exacting. So, we needed someone with a lot of expertise in this area and could work fast. Lee is the man. He has all the necessary contacts and got us exactly what we needed in time.

In working with Lee, we've also taken advantage of collateral benefits. For instance, we've switched all our state surety bonds to Lee's company. They obtained very favorable pricing, and they've given us great service. Saving money isn't why we chose to work with themů But, it's certainly a benefit of working with someone who knows the insurance and mortgage banking industry so well.

We are a mortgage banker licensed in 22 states. So, we need a surety bond for each of those states. Plus, in states where we have branch offices, we often need surety bonds covering those branches too. That can lead to a lot of administrative work. Lee and his team have been able to keep track of what we have, quickly get us new bonds or update existing ones and provide proof of insurance when we need to present documentation. We've just received great service. They've really taken care of us.

Overall, we've received much better pricing than what we had before. But, even more, the coverage and service have been better. First rate, really. I would unqualifiedly recommend people use Lee and Mortgage Banking Insurance Group. The service we get is outstanding, and we're very happy with it.

- Mark Havlik
Manager Licensing & Compliance
ResMac, Inc.