Leading Lender-Placed Insurance Provider Will Now Be Independently Owned

One of the industry's leading providers of lender-placed insurance will now be independently owned after a buyout announced today. LP Insurance Services, LLC has agreed to acquire the assets of Loan Protector Insurance Services, a division of Willis Towers Watson. Based in Cleveland, Ohio, Loan Protector has been a provider of customizable insurance tracking programs and lender-placed insurance products to the mortgage industry for the past 40 years. The transaction is expected to close January 31, 2018.

Following the transaction, Dennis Swit will now serve as CEO and the company will continue to operate under the Loan Protector brand. Swit joined the organization in 1998 and previously served as CEO and Managing Partner. During his tenure, he helped take the once privately held company to a division of a publicly traded S&P 500 firm.

“The one thing that has always remained consistent about Loan Protector is our unwavering dedication to providing customized programs for our clients and a quality customer service experience to their borrowers,” Swit said. “Our dedicated team of compliance and risk management professionals monitor and adapt our services as regulations change, which enables us to protect our clients from financial, reputational, and security risks. The outstanding programs and services we provide will only continue.”

Celebrating its 40th anniversary this year, Loan Protector will continue operating and servicing national and regional clients from its headquarters in Cleveland once the transaction is finalized. Swit says he has no plans to change the company’s name since there’s so much brand equity built into it.

Headquartered in Cleveland, Loan Protector provides customized, lender-placed insurance and tracking solutions that protect mortgage servicers from risk. According to the press release, “By bringing together high-level technology, expertise, and unmatched customer service, [Loan Protector] safeguards client interests better than anyone else.” You can learn more about the company by clicking here.