Risk Mitigation
SNARE ID Verification System
SNARE is a complete identification system developed by Financial Crime Services. The card reader
provides instantaneous information on any government-issued ID card: Drivers’ licenses (Canada and
U.S), state-issued ID cards, military identification, driver’s permits and credit cards – SNARE reads
them all.
Use at the teller counter for cashing checks, at the new accounts desk for opening new accounts, in
your loan department for new loans, and throughout your bank for pre-employment screening, veriftying
vendors, and safety deposit box access.
Lenders Option Auto Protection
Automobile Loan Protection is a risk management program that enables credit unions to increase loan
volume and finance income on direct and indirect loans. Additionally, Loan Protection improves loan
yield and profitability by significantly reducing losses on repossessed vehicles.
Loan Protection purchases repossessed vehicles based on guaranteed vehicle values less collision
damage, mechanical defects, or excess mileage. Purchase offers are consistently higher than auctions
or dealer bids. To further reduce deficiency loan balances, the program provides principal balance
reduction payments to a maximum of $5,000. Watch video
Blanket Single Interest
Also known as Vendor Single Interest (VSI), this insurance policy provides assumption of coverage for
your auto loan portfolio. A small charge is applied to new loans at origination and there is no insurance
tracking required on an ongoing basis. This is a terrific way to free up staff for more productive activities
and eliminate the anxiety of force placing insurance on your customers. Coverages include all risk
physical damage, instrument non-filing, confiscation and skip and repossessed property.
Creditor Placed Insurance (CPI)
CPI protects your collateral interest by force placing insurance on the borrowers who do not maintain
their own auto insurance. Internet technology provides a convenient interface for tracking insurance
renewals and cancellations, sending letters to customers, and placing insurance at your discretion.
Insurance tracking can also be outsourced with final approval for insurance placement remaining with
the lender.
CPI brochure
Blanket Mortgage Hazard
When tracking insurance renewals and cancellations is not appealing to the bank, a Mortgage
Impairment Policy is available. These types of policies are cost effective to lenders with low risk
portfolios who have a limited physical damage loss history.
Forced Order Hazard
The lender's promissory note requires the borrower to maintain proper insurance which protects the
lender’s interest. If the borrower fails to do this, the lender has the right to place insurance that will
protect their interest. The policy premium is passed along to the borrower and is designed to protect the
lender for physical damage losses up to the outstanding loan balance. Online tracking capabilities
make it easy to monitor insurance cancellations and place coverage at your discretion.
Equipment Maintenance Insurance
Reduce maintenance costs by 10-20% and save time and energy in managing your fixed assets. Use
your preferred vendors or even your own employees for maintenance and repairs while still
experiencing guaranteed savings. This program eliminates the potential for additional costs to arise
during the fiscal year. Any and all electronic equipment that plugs into the wall is eligible.
EMI Brochure
SNARE ID Verification System
SNARE is a complete identification system developed by Financial Crime Services. The card reader
provides instantaneous information on any government-issued ID card: Drivers’ licenses (Canada and
U.S), state-issued ID cards, military identification, driver’s permits and credit cards – SNARE reads
them all.
Use at the teller counter for cashing checks, at the new accounts desk for opening new accounts, in
your loan department for new loans, and throughout your bank for pre-employment screening, veriftying
vendors, and safety deposit box access.
Lenders Option Auto Protection
Automobile Loan Protection is a risk management program that enables credit unions to increase loan
volume and finance income on direct and indirect loans. Additionally, Loan Protection improves loan
yield and profitability by significantly reducing losses on repossessed vehicles.
Loan Protection purchases repossessed vehicles based on guaranteed vehicle values less collision
damage, mechanical defects, or excess mileage. Purchase offers are consistently higher than auctions
or dealer bids. To further reduce deficiency loan balances, the program provides principal balance
reduction payments to a maximum of $5,000. Watch video
Blanket Single Interest
Also known as Vendor Single Interest (VSI), this insurance policy provides assumption of coverage for
your auto loan portfolio. A small charge is applied to new loans at origination and there is no insurance
tracking required on an ongoing basis. This is a terrific way to free up staff for more productive activities
and eliminate the anxiety of force placing insurance on your customers. Coverages include all risk
physical damage, instrument non-filing, confiscation and skip and repossessed property.
Creditor Placed Insurance (CPI)
CPI protects your collateral interest by force placing insurance on the borrowers who do not maintain
their own auto insurance. Internet technology provides a convenient interface for tracking insurance
renewals and cancellations, sending letters to customers, and placing insurance at your discretion.
Insurance tracking can also be outsourced with final approval for insurance placement remaining with
the lender.
CPI brochure
Blanket Mortgage Hazard
When tracking insurance renewals and cancellations is not appealing to the bank, a Mortgage
Impairment Policy is available. These types of policies are cost effective to lenders with low risk
portfolios who have a limited physical damage loss history.
Forced Order Hazard
The lender's promissory note requires the borrower to maintain proper insurance which protects the
lender’s interest. If the borrower fails to do this, the lender has the right to place insurance that will
protect their interest. The policy premium is passed along to the borrower and is designed to protect the
lender for physical damage losses up to the outstanding loan balance. Online tracking capabilities
make it easy to monitor insurance cancellations and place coverage at your discretion.
Equipment Maintenance Insurance
Reduce maintenance costs by 10-20% and save time and energy in managing your fixed assets. Use
your preferred vendors or even your own employees for maintenance and repairs while still
experiencing guaranteed savings. This program eliminates the potential for additional costs to arise
during the fiscal year. Any and all electronic equipment that plugs into the wall is eligible.
EMI Brochure
| Copyright 2012, Bison Mountain Financial, Inc. All rights reserved. |
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| Products |
First Close Real Estate Settlement Program
FirstClose is a single-point dashboard which aggregates nationally
recognized vendors and service providers into one easy-to-use online
solution. It is one of the most powerful and cost effective settlement
services tools in the mortgage lending industry.
Products available include:
FirstClose is a single-point dashboard which aggregates nationally
recognized vendors and service providers into one easy-to-use online
solution. It is one of the most powerful and cost effective settlement
services tools in the mortgage lending industry.
Products available include:
- Desktop Valuations with Site Inspection
- Flood Determinations
- Title Search Alternatives
- Credit Reports
- RE Tax Tracking
- Doc Prep
As an alternative to a Drive-by Appraisal (2055) and the 'Tax Value + Property
Condition Report' solution, FirstClose also helps lenders comply with the
Interagency Guidelines with Desktop Valuations with Site Inspection.
Our valuation platform gathers a full set of property and market data onto a staff
appraiser's desktop. The appraiser employs tools to filter, adjust and weight the
data and applies logic to four distinct industry accepted valuation methods. The
appraiser reviewed data and value methodologies are then passed to our
proprietary valuation engine. The result is an objective value with a supported
value conclusion including backup data and analytics.
Report Contents
• Full summary: subject, comps, MLS and market data
• Fraud and Risk indicators for the subject and market
• MLS photos
• Map of subject and comps
• Satellite imagery of subject and comps
• Optional Broker site inspection: photos, property condition, market conditions
• 4 distinct Value Indicators
Condition Report' solution, FirstClose also helps lenders comply with the
Interagency Guidelines with Desktop Valuations with Site Inspection.
Our valuation platform gathers a full set of property and market data onto a staff
appraiser's desktop. The appraiser employs tools to filter, adjust and weight the
data and applies logic to four distinct industry accepted valuation methods. The
appraiser reviewed data and value methodologies are then passed to our
proprietary valuation engine. The result is an objective value with a supported
value conclusion including backup data and analytics.
Report Contents
• Full summary: subject, comps, MLS and market data
• Fraud and Risk indicators for the subject and market
• MLS photos
• Map of subject and comps
• Satellite imagery of subject and comps
• Optional Broker site inspection: photos, property condition, market conditions
• 4 distinct Value Indicators