Core banking systems integrate with and have become essential to most of the services modern lending institutions provide. When it comes to loan servicing, your core system is often the conduit through which the essential process of insuring collateral portfolios is performed. Maintaining appropriate insurance coverage is so important that lender insurers have developed high-tech software that interacts with a lender’s core system to facilitate that coverage. With good reason, lending managers and executives are acutely concerned with how well an insurance process will work with the institution’s core system. For that reason, when discussing Blanket Portfolio Insurance, lending executives often ask me the following questions:
