AUSTIN, Texas--(BUSINESS WIRE)--DIMONT, the largest consolidated provider of hazard insurance claims adjusting and specialty investor claims services to the residential mortgage industry, announced today from the Mortgage Bankers Association Annual Convention & Expo that its investor claims business has grown over 250% in 2019, which included adding its Mortgage Loss Analysis Service, which is designed to help servicers determine operational and loan-level losses associated with FHA loans, minimize investor claims expenses and mitigate potentially hefty fines that often result through the investor claims process.
For mortgage servicing companies, management of investor claims represents a significant business issue as some instances of loan-level losses can exceed $9000 per case due to improper handling and analysis of the claim. In response to growing market demand related to this issue, DIMONT also announced that it has increased staffing by over 300% in this business unit, and it continues to hire experienced resources in both claims processing and loss analysis as it expects this business line to grow even further through the end of year and into Q1 2020.
“The potential losses associated with investor claims generally and FHA loans in particular present a significant problem for mortgage servicers and private investors,” said Denis Brosnan, CEO, DIMONT. “Given our expertise in collateral damage, insurance claims and technology, we are well-positioned and committed to helping our servicing clients better process these claims and to understand the root causes of losses, so they can more efficiently and profitably run their business.”
Founded in 1996, Dallas-based DIMONT is the largest provider of specialty insurance and loan administration services to the residential and commercial mortgage industries in the United States. Additional information is available at www.dimont.com.