Insurance Risk Management Services

Fully Outsourced Insurance Tracking Program

Our outsourced insurance tracking program is designed to monitor insurance on all loan types and collateral (auto, real estate, business assets). Our outsourcing service creates workflow and expense efficiencies, while providing comprehensive risk management solutions. Our objective is to help our lenders comply with the New CFPB Insurance Tracking Regulations and provide you with a Compliant and Comprehensive Risk Management Approach. Tracking Insurance, sending borrower notification, and force placing insurance coverage has become a big headache for lenders, especially since the new insurance tracking regulations came out in January of 2014, and our solutions will focus on managing the risk and document flow in the most efficient, streamlined and cost effective way possible.

In-Sourcing Insurance Tracking Programs

We provide our lenders an online system that helps you monitor lapsed or canceled insurance, send CFPB compliant notices to borrowers, and force place insurance when it becomes necessary. This system is easy to use and eliminates much of the manual work and process of sending letters and force placing insurance. The lender placed policies can also be converted to an OREO type coverage once the property becomes bank-owned. We often implement Mortgage Impairment and Blanket Insurance related coverage as part of this risk management approach too. This eliminates much of the insurance tracking a lender would normally have to do.

Blanket Insurance Programs

Some lenders want to completely eliminate insurance tracking or at least lessen the amount of monitoring by purchasing blanket insurance or mortgage impairment insurance on the portfolios. The blanket options can include commercial, residential, home equity and title vehicle loans. The coverage can be customized and can be used to completely eliminate insurance tracking, other than for flood insurance which is required by the regulations.

Real Estate Tax Services

Delinquency Tax Audit & Reporting

Get an extensive annual review of your commercial and residential mortgage portfolio for delinquent real estate taxes so you can reduce costs by focusing resources on other mission critical tasks while minimizing the risk of having unidentified delinquencies in your portfolio. We help you eliminate potential losses by reviewing loans with upcoming tax due dates and providing payment amount, where to pay, and documentation for delinquent tax payment. We help lenders understand the tax status of loans via automated access to delinquent property tax and real estate tax sales information.

Property Tax Research

Eliminate potential losses by understanding all areas of liability including accurate parcels, agency relationship, prior delinquent or sold status, current payment history, special abatements and/or exemptions.

 Tax Escrow Services

Streamline the process of gathering tax escrow information by interfacing with all tax agencies to obtain the real estate tax information necessary for payment in accordance with each Treasurer’s unique formats, schedules and specifications.

 Tax Monitoring and Payment Validation

Ensure timely payment of taxes. We will review all parcels after each tax due date to ensure that taxes were paid. Reporting includes the original amount due, amount paid, over payment or shortages, original due date and date paid. If tax payment is found to be delinquent, we will report the amount unpaid, penalty and/or interest assessed and payoff date.

Real Estate Flood Services

Flood Determinations

We help lenders identify properties that are in a declared flood zone and provide weekly notifications for the life of the loan, keeping them up to date as flood zones change. Integration with Loan Origination Software (LOS) platforms helps to streamline orders. Over 90% of orders are completed within seconds regardless of whether they are placed through LOS or the website. Risk is reduced and fines are eliminated. We offer options in ordering flood zone determinations including various platforms and LOS options.

Flood Monitoring & Lender Placed Flood Insurance

We provide an online system that helps you monitor lapsed or canceled flood insurance, send CFPB compliant flood notices to borrowers, and force place flood insurance when it becomes necessary. This system is easy to use and eliminates much of the manual work and process of sending letters and force placing insurance. Our program will eliminate the risk of flood loss and non-compliance with the Flood Insurance Regulations

Client Testimonials

Red Rock has helped our insurance agency generate substantial commission income by working with us to market new and innovative products and services to our financial institution clients. Red Rock’s professional and knowledgeable approach, along with the quality of their programs has greatly enhanced our business relationship with these financial institution clients.”


“We formed a strategic alliance with Red Rock for the purpose of implementing a risk management solution for the uninsured collateral in our automobile, commercial and real estate portfolios. Our goal was to implement a unified and efficient program throughout our organization. The key to the success of implementing this program in our financial institution had to do less with the program itself, and more to do with Red Rock’s ability to utilize, structure and deploy the program effectively for maximum advantage.”

Regional Bank

“The programs that Red Rock implemented at our financial institution have made an immediate impact through increased fee income, enhanced efficiency and reduced credit losses. We have also been able to dramatically improve our branch operational efficiencies by outsourcing the insurance tracking process. Based on our experience, we would highly recommend Red Rock to other lending institutions that are in the market for these products.”

Finance Company

Red Rock’s professional and knowledgeable approach, along with thequality of their programs has greatly enhanced our business relationshipwith these financial institution clients.

Independent Insurance Agency