Proctor Financial, Inc.’s (PFI) REO Guard® is a Lender-Place Hazard Insurance program tailored for financial institutions with only real estate owned (REO) property portfolios. REO Guard® protects real estate owned (REO) properties and properties in foreclosure or default when no coverage is in place on behalf of financial institutions. REO Guard® provides optional liability coverage and can be bundled with property inspection services at the time of acquisition to verify the condition of the property on the date of possession.
PFI offers its agents a wide variety of products for the unique insurance needs of mortgage servicers, banks, credit unions, and private equity. PFI partners with multiple insurance carriers rated AM Best “A" or better to provide competitive terms and long term program stability. With over 45 + years in the lender-placed insurance industry, PFI will manage all surplus lines filings and provide marketing tools and sales assistance so agents can spend more time selling and servicing their clients.
Mortgage Guard® by PFI is lender-placed hazard insurance coverage that protects properties (including REO) when borrowers fail to maintain adequate insurance coverage as collateral for the loan. Mortgage Guard has optional premises liability, which provides slip and fall coverage on these properties.