E & O for a Commercial block of Loans Broker
Posted: Wed Jan 15, 2014 11:38 am
I am having trouble finding E & O for a one-man business that plays "matchmaker" between financial institutions for
blocks of performing loans. He does not analyze or make any representations about the loans. The two institutions
negotiate directly and do their own due diligence and use their own attorneys and contracts to complete the transaction.
My client gets a small fee for helping the seller find a buyer. Initially he did some "non-performing loans" now all are "performing".
He had Westchester Fire for a couple of years and they got out. Last year we found Navigators ($10,500) and now they are getting out. Does anybody know of a company for Surplus Line Broker that can help.
Thanks!
Jay Schrader
Cascade Summit Insurance
West Linn, Or
blocks of performing loans. He does not analyze or make any representations about the loans. The two institutions
negotiate directly and do their own due diligence and use their own attorneys and contracts to complete the transaction.
My client gets a small fee for helping the seller find a buyer. Initially he did some "non-performing loans" now all are "performing".
He had Westchester Fire for a couple of years and they got out. Last year we found Navigators ($10,500) and now they are getting out. Does anybody know of a company for Surplus Line Broker that can help.
Thanks!
Jay Schrader
Cascade Summit Insurance
West Linn, Or