Matterhorn Financial Products
Lender's Comprehensive Single Interest Insurance
Lender's Comprehensive Single Interest, or LSI, has been Matterhorn's core business
since the Company was founded in 1972. LSI protects a lender's interest in collateral
securing a loan if the borrower's loan agreement-required coverage on the collateral
lapses or is cancelled. Types of collateral property covered include automobiles,
watercraft, recreational vehicles and other chattels.
Basic protection under the Matterhorn-designed BancInsure LSI policy includes coverage
for "All Risk" Physical Damage, Instrument Filing Errors and Omissions, Confiscation
and Skip, and Repossessed Vehicles. Modifications and enhancements are available,
enabling coverage to be tailored to suit each lender's individual needs by Matterhorn's
underwriters who know and understand the consumer lending business.
Lender's Performance Bond
The Lender's Performance Bond, available in selected states, is an innovative BancInsure
product developed by Matterhorn for second mortgage and home equity lenders. It
provides an alternative to securing time-consuming and costly land records searches
to identify existing liens and encumbrances on the property which will be securing
the loan. This coverage protects the lender from losses due to undisclosed or unknown
liens that are superior to the lender's intended second lien position at loan origination.
The coverage normally costs less than a records search, improves lender operating
efficiencies, allows faster loan approvals and reduces the number of loans lost
to competitors.
Mortgage Impairment Insurance
Matterhorn's expanded version of traditional mortgage impairment coverage functions
much like its LSI counterpart for consumer loan portfolios, in that the lender is
required to confirm the existence of borrower insurance only at mortgage loan origination.
This relieves the mortgage lender or servicer of the costly burden of tracking or
verifying the borrower's continued compliance with the requirement to maintain acceptable
insurance on mortgaged real property during the loan term. Coverage is provided
for uninsured loss or damage to the property, as is errors and omissions coverage
for certain lender servicing responsibilities and duties related to the mortgage.
This coverage is underwritten by Certain Underwriters at Lloyds, London.
Matterhorn Financial Services. Providing dependable, responsive and competitive
lender coverages through expertise and innovation. Matterhorn assures its clients
that "Your protection is our single interest.®"