Optional Standard Flood Insurance Policy Conversion Program
MPPPFlood.com offers our lender placed flood insurance clients an optional free, no cost service aimed at convincing borrowers to replace their lender placed policy with a borrower purchased Standard Flood Insurance Policy.
At the lender’s option TFIA will automatically mail a series of three letters to a borrower for which a lender placed MPPP flood insurance policy has been purchased. TFIA’s letters have nothing to do with the system generated FEMA required warning letters. The optional TFIA letters are on our letterhead, come from us, the borrower’s agent, and explain how simple it is for us to provide a Standard Flood Insurance Policy quote. Our letters focus on our flood insurance expertise and friendly customer service and explain why in almost all instances we will be able to send them a refund!
TFIA has literally spoken successfully to tens of thousands of flood insurance consumers. We are the consummate flood insurance professional.
The advantages to our lender clients are:
- TFIA does all borrower contact at no expense to the lender
- Lower Standard premiums reduce monthly mortgage payments
- Lower monthly mortgage payments reduce delinquency and possible non-performing assets
- Customer relations are improved with satisfied borrowers
The optional policy conversion program is fully automated and requires no effort from our lender clients. At the time a new MPPPFlood customer record is created the lender clicks a box and opts in or out of the program for a specific borrower. Each lender has the choice of which borrowers they would like TFIA to contact. Each borrower selected by the lender will receive three separate mailings approximately 3 months, 6 months and 9 months after an MPPP policy becomes effective. TFIA corresponds, counsels, arranges for the replacement Standard Policy, collects the new premium, cancels the MPPP policy and returns the prorated cancellation refund.