Fay Financial Continues to Leverage IL Group for Lender Insurance Needs, Maintain Compliance

Institution achieves streamlined workflow, greater efficiencies

GULF SHORES, Ala.--(BUSINESS WIRE)-- IL Group, provider of customized insurance products and services to lending institutions nationwide, today celebrates three years with Chicago-based Fay Financial. Now in its fourth year, Fay Financial will continue to leverage IL Group for customized lender placed and forced placed insurance products and services to meet the needs of its customers and maintain regulatory compliance.

Fay Financial was founded in 2007 to address the growing dislocation within the housing market driven by the effects of the housing crisis. To support its efforts, the institution selected IL Group to provide the company with Lender-Placed Hazard Insurance, Lender Placed Flood Insurance and Flood Determinations. Fay Financial cited several benefits to working with IL Group, including the provider’s professional staff, responsiveness and overall customer service.

“It is crucial for our company to provide top-notch insurance products to our customers, so it is essential we work with an organization that can provide those products, paired with a highly knowledgeable and easy-to-work-with staff,” said Edward Fay, CEO and founder of Fay Servicing, LLC, a unique servicing unit of Fay Financial that works closely with both lenders and investors. “Since the beginning of the relationship in 2009, IL Group has consistently been responsive to our requests. They are always willing to work with us and answer any questions, and in doing so has helped our organization see greater efficiencies and a streamlined workflow process.”

IL Group also accommodates unique requests, such as send disclosure letters, as if they are from Fay Financial directly, when borrowers fail to maintain their own insurance. “This is key for us, as we know we can rely on IL Group to strictly adhere to government regulations to protect investors and our company,” said Fay.

“The regulatory environment continues to change and it’s important for institutions to stay abreast those changes and maintain compliance,” said Larry Cason, president of IL Group. “Because of our keen understanding of the industry, many of our customers, like Fay Financial, have worked with us for many years to not only support their insurance needs, but maintain compliance. We’re pleased to continue our partnership and look forward to many more years.”

About IL Group

Founded in 1989, IL Group provides customized lender placed products and services to lending institutions nationwide. With a keen understanding of the insurance and mortgage industries and strong commitment to providing outstanding customer service, its team of licensed agents leverages its strong relationships with top insurance carriers to provide the right solution and insure each lender’s loan portfolio. For more information, please visit www.ILGroup.com.

For IL GroupMary York Cox, 678-781-7217

Source: IL Group