Apparatus and method for providing collateral construction loan insurance coverage

摘要: A centralized automated apparatus (10) for lending institutions (16) to initiate (44), report (52), and confirm insurance coverage (34) on buildings (20) used as collateral construction loans under a single builder's risk policy (15) provided by an provider (14) with the institution named insured borrower/builder (18) additional insured. Coverage rates are computed added system using rate information (14). Premium payments transferred (46, 62) from active escrowed loan proceeds. The provides management reports (52) of new (54), (56), funds transfers reconcilation (53, 32), premium repayments closed (58, 64), loss evaluations (60).