How Servicers Can Help
With home insurance premiums on the rise across the country, more homeowners are asking: Am I fully covered — and what can I do if my rates go up?
Toby Wells, President of Cornerstone Servicing, recently joined reporter Kim Haas on The Mortgage Note podcast to unpack how mortgage servicers can play a key role in helping homeowners navigate skyrocketing insurance costs nationwide.
The growing frequency and severity of natural disasters like floods, hurricanes, wildfires and hailstorms are pushing premiums higher—and not just for homes in high-risk areas. So how can servicers step in and support their clients?
“The best thing that a servicer can do is educate customers so they have an awareness of insurance, the risks that exist, and actions they can take.”
toby wells
In this episode of The Mortgage Note podcast, Toby shares:
- Why adequate, affordable coverage has become more complicated
- Ways servicers can help homeowners understand their coverage needs and manage costs
- How servicers can leverage data and proactive communication to lessen default risk as homeownership costs rise
- The link between better support and better retention for lenders and servicers
Listen to the full podcast on The Mortgage Note to hear Toby’s insights on what comes next in the evolving insurance landscape and how the right guidance can make all the difference.