Summary This two-part analysis delves into the insurance compliance process for mortgage lenders. Part 1 explores the correlation between insurance compliance turnaround time and five determinants commonly linked to extended approval timelines. In Part 2, our focus shifts to investigating the impact of insurance brokers in shaping these timelines. Insights from Advocate’s Reviews At Advocate, our cutting-edge technology and expert insurance review team consistently outperform industry standards in expediting insurance compliance processes – a crucial step in facilitating loan closings. Despite these advancements, variations persist in compliance and resolution turnaround times across different deals. The insights presented in this analysis are derived from our insurance reviews conducted over the past 12 months. The dataset encompasses all approved loans across various loan programs and lenders. The key metric under evaluation is the
