Berkley FinSecure News

29Jun

Foreclosed Properties Are A Headache In More Ways Than One

Avoid The Drive By –
Get Out And Inspect, Inspect, Inspect

In the business of lending, not all loans will perform. When this happens, the financial institution eventually becomes the owner of real estate, whether wanted or not. Taking possession of real estate exposes the owner to risks and opportunities for loss, even if being prudent and careful. Often times, it’s easy to forget to take steps in securing property or having an established policy and process for such foreclosed property, especially if it’s not a frequent occurrence.

As a leader in foreclosed property coverage, we’ve put together a risk management sheet that aims to provide some common sense advice, along with some advice we’ve learned through insuring these properties (school of hard knocks). We all know losses aren’t any fun, but it’s important and valuable to learn from claims and work towards reducing exposures that are controllable. Setting up a checklist and making sure responsibilities are assigned to specific people is an important step, and the risk management piece will provide a lot of steps for you to consider.
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16May

Where Everybody Wants Your Name

Where Everybody Wants Your Name (and Date of Birth and Social Security Number and …)

Identity theft or identity fraud, the terms commonly used to refer to criminal activity in which someone wrongfully obtains and uses another person’s personal data, continues to rise. Continue reading

02May

No Excuses: Business Continuity Planning

Don’t Let a Disruption Cause a Catastrophe

At the core, a disruption to business is just that, a disruption to what is supposed to be happening.  It’s far too easy to be distracted by excuses to make a continuity plan, or believe that a business may be too small to benefit from one. Continue reading

18Apr

Funds Transfer Risk

Manage Funds Transfer Exposures and Fraud

Your financial institution clients have significant risk exposure when conducting funds transfers. Criminals prefer easy methods to conduct fraud that moves money quickly and makes it difficult to get back. Continue reading

21Mar

Mitigating Tornado Risk

Mitigate Tornado Risk to Prevent Loss and Reduce Costs

Approximately 1,000 tornadoes occur each year in the United States, causing an average of $1.1 billion in property damage and 80 deaths. Continue reading

13Dec

Overdraft Programs Are a Target for Class-Action Lawsuits

New Litigation Focuses on “Available” vs. “Actual” Balance

Overdraft protection provided by financial institutions brings with it responsibilities around disclosures to consumers. While actions surrounding high-to-low processing claims have largely abated, actions by the Consumer Finance Protection Bureau (CFPB) in 2015 shed light on a new trend among plaintiff’s attorneys. Specifically, new litigation centers around an alleged discrepancy between the disclosure statement and practices surrounding “available balance” versus “actual balance.”